Consumer complaint received 2019-08-13
Company: U.S. BANCORP
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My loan was sold by XXXX, and purchased by US Bank. The payment was not transferred as indicated in my terms. I have spent at least 3 hours of my time speaking to customer service reps. I already paid for XXXX and I am set to pay for XXXX, but I have to say this is a bit of an inconvenience as I didn't expect to make a double payment. 

US Bank was showing that I owed a payment due on XX/XX/XXXX. While my next payment should be due on XX/XX/XXXX. Just as I filled this out I refreshed the page and the payment date was updated. Nonetheless, I think it is important for people to know their rights, they need to monitor their loans and keep good records. 

XXXX payment : The payment to XXXX was cashed on XXXX for XXXX. This is the payment that should have been transferred in the transaction, but was only recently moved. ( {$1400.00} ) XXXX payment : The second payment, to US Bank, was made on XX/XX/XXXX ( {$1300.00} ), a payment that US Bank applied as a payment toward XXXX. They said that they would be reporting me to the credit agencies if I did not pay in 3 days ( see below for details ) XXXX payment : The third payment, to US Bank was made on XXXX ( {$1400.00} ), applied as a payment for XXXX by US Bank. 

Conversation history : Saturday, XX/XX/XXXX. XXXX US Bank : XXXX XXXX XXXX : Told me that I needed to talk to XXXX  and request an overnight transfer. He said he would waive the {$11.00} charge to pay over the phone if I had any trouble paying XXXX online. I assumed that I would be paying only for XXXX and expressed this. He agreed and said that if XXXX overnighted the payment everything would be fine. No mention of paying XXXX by a certain date. 

XXXX : XXXX XXXX : Told me that the department that handles the transfers would be open on Monday and that they would handle it then. She said that although there was an initiation of the transfer on the XXXX it had not been completed. She assured me that the request was sent to the proper department and that they would handle it on Monday, I asked at least 4 times. The payment should be at US Bank by Wednesday, XX/XX/XXXX. 

Monday, XX/XX/XXXX XXXX : XXXX XXXX XXXX : Told me that he saw the notes from the CS on Saturday, but since it was still only half-way through the business day that I needed to give it until midnight for the transfer to complete. I said that I would call back the next day to confirm, he said that it would be done by then. 

Wednesday, XX/XX/XXXX XXXX : XXXX XXXX : She said that the request was never sent to the department that handles transfers. She put me on hold for a while and said that she had talked to the transfer department and that they would be completing the transfer that day. 

Friday, XX/XX/XXXX XXXX : XXXX XXXX : Said that the transfer and request for transfer had never been put through and that they would not be doing the overnight transfer. He said that they never do that. He said that the transfer took place on the XXXX and that US Bank has the money, which contradicts the previous 3 CS reps from XXXX. 

XXXX : XXXX in XXXX NJ, XXXX 's Manager : Told me basically the same thing that XXXX told me. " Transfer already done, your bank has the money, no impact to you, you have to handle it with the other company '', etc. 

Saturday, XX/XX/XXXX US Bank : XXXX XXXX : No transfer has occurred. He said that it is my responsibility to get the money from XXXX, because I paid the wrong company for my XXXX payment and that they will be reporting me to the credit agencies in 3 days for being delinquent on my account. It didn't matter how I got it, he said that it was my responsibility to request the overnight transfer or that I had to have XXXX  give me the money back so that I can pay them. ( I made the payment toward XXXX to avoid the hit to my credit ). 

Tuesday, XX/XX/XXXX XXXX notified me that they incorrectly applied part of my loan and the payment was just " sitting there '' because of the incorrectly applied payment. 

Thursday, XX/XX/XXXX I was notified that my payment was shipped from XXXX to US Bank.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation