Consumer complaint received 2020-07-10
Company: U.S. BANCORP
State: CT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My wife XXXX " XXXX '' XXXX and I, XXXX XXXX, use US Bank as the lender to purchase a condo in Connecticut. Given the current COVID-19 situation, we made an offer on XX/XX/XXXX, with a loan commitment date of XX/XX/XXXX and closing date of XX/XX/XXXX, based on the suggestions from our loan agent XXXX XXXX ( NMLS # XXXX ). 

We have been very responsive in preparing all required documents requested by US Bank and have been constantly checking in to learn whether anything is missing or needed on our ( the borrower 's ) end. The home inspection and appraisal went on well without any delay. However, the loan processor, XXXX XXXX XXXX has neglected our contacts several times, made unnecessarily delays on both loan commitment and closing schedule, and refused to provide a conditional loan commitment letter without explaining the reason. 

We feel what we have experienced need the attention from a third party like CFPB because US Bank provides no complaint channels except through the loan agent XXXX XXXX and processor XXXX XXXX. Yet they keep neglecting our requests and delay the response, dodging responsibilities, which made the loan closing process painful and with tons of uncertainties to both buyers and sellers. 

The COVID-19 might bring some understandable delays, but it should not bring neglect and unprofessionalism from such a national-wide financial institute. 

Notes : I've authorized my wife XXXX " XXXX '' XXXX ( cellphone XXXX ) to handle the email/phone communication with the lender. And she is also the buyer of the condo we're purchasing. 

Timeline ( all timeline events could be verified by email/phone records, major email exchanges have been attached ) XX/XX/XXXX, XXXX, XXXX ( email ) XX/XX/XXXX ( phone ) - buyers check in the status of the loan commitment without any response XX/XX/XXXX XXXX EDT - less than one business day before the loan commitment day, XXXX, lender processor called to request tons of documents as the prior ones are out of date. 
XX/XX/XXXX XXXX EDT - US Bank client portal sent request to upload to buyers. 
XX/XX/XXXX XXXX EDT - buyers got all required updated documents uploaded per request. 
XX/XX/XXXX - original loan commitment day, two emails and two calls sent by buyers, no response till almost the end of the day XX/XX/XXXX XXXX EDT - lender processor suddenly informed that title, insurance, and condominium approval are still missing XX/XX/XXXX XXXX EDT - insurance and condominium approval have been sent by buyers. The insurance proof and agent contact info was previously sent de facto but the processor didn't pay any attention. The lender never asked for condo approval previously. 
XX/XX/XXXX XXXX EDT - buyer 's attorney office informed that the title has been sent to the lender XX/XX/XXXX - buyers noticed that the processor XXXX would be out of office between XXXX XXXX and asked for whether there is anyone else in her team as her backup, got denied. 
XX/XX/XXXX - buyers checked in by email after the long weekend, no response XX/XX/XXXX XXXX EDT - lender processor admitted that missed the call and didn't reply email, no more progress compared to XX/XX/XXXX XX/XX/XXXX XXXX EDT - lender processor informed the buyers that up to 10 business days is needed now, couldn't meet the closing date goal, and couldn't rush the process. 
XX/XX/XXXX - two emails and two calls sent by buyers to check-in ( 1 ) whether a conditional commitment letter, long time overdue, could be sent to inform the seller side regarding the delay ( 2 ) any comment on how many days roughly the contact needs to be  extended, no response from the lender XX/XX/XXXX - buyer had nothing to do but had to contact CFPB

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