Consumer complaint received 2016-03-02
Company: U.S. BANCORP
State: MO
Product: Mortgage
Sub-product: FHA mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
There was previous concerns regarding a mortgage that was wrongfully foreclosed on, prematurely during litigation 's with a mortgage lender, US Bank, which caused a great deal of adverse circumstances including homelessness and potential exacerbation of a traumatic condition, to whom of which Social Security XXXX was being sought. 
Social Security XXXX was also reported to the lender as a potential income source, however the period to provide all those documents was not sufficient for the lender and they proceeded with foreclosure even though the HAMP program was still investigating whether or not I qualified for their Emergency Home Owners Loan program, which the lender, also US Bank, stated I did not qualify for. 

The same lender was also competing with other companies to acquire mortgage backed securities off the notes on the mortgages, while also receiving federal funding in the form of TARP funds, and did not extend all options to several consumers, myself included & caused situations where some individuals transitioned, died, while undergoing the process of trying to redeem their homes or find recovery options. US Bank was also involved in a XXXX XXXX case to whom of which many individuals that banked with the lender as customers having checking accounts, also were defrauded via overdraft fees and Extenuating circumstances that were subtle, yet overt. An example would be the inner workings of the accounting methods which ultimately trickled upward to the investors and those in high corporate positions, while consumers and lower level employees were given ill mandates and instructions on how to receive aid to help with mortgages and negative account balances in their checking and or savings accounts. 

For the purpose of my mortgage, I previously submitted to the Consumer Financial Protection Bureau to get an update regarding the matter and also submitted information to the FHA Resource Center, the Hope Hotline and various other organizations to receive help including XXXX, who helped us navigate to the EHLP program option, which the lender neglected to provide to myself and the XXXX counselors seeking help with the mortgage. 

The only option provided was a four month forbearance to come up with a great sum of funds to cover the banks losses, while also being forced into the loss mitigation process and losing the home for small things like the actual home loan or not coming up with the tax money in time and thereby violating the local ordinances and further the lender utilizing the local ordinances to get the mortgage, insurance money from PMI and also the lien being defaulted, while also getting government aid. 

Ultimately, I returned to school after a time of homelessness and eventually getting my Social Security settlement, however I submitted information to the Comptroller of Currency and Rust Consulting group to review the lender and they ultimately said the same thing the lender stated, which was that we were not eligible to recover the home. This was after being circulated numerous times through different customer service agents in different groups and companies, all pointing back to the lender. 

The initial reason for such an error was a communication error between the lender and myself during processing where a paper did not go through during the loss mitigation process for the lender to properly process the paperwork ; either by a wrong number or malfunctioning equipment error, to whom of which the lender was given additional paperwork after additional attempts from that error were made to reconcile the error and salvage the mortgage and home. 

All individuals staying in the home had to vacate and we each suffered extensive loss and fear of not having a place to go, due to the situation.

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