Consumer complaint received 2016-02-09
Company: U.S. BANCORP
State: OH
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan modification,collection,foreclosure

Complaint:
In XXXX 2015, I completed an application requesting mortgage assistance from US Bank due to a financial hardship. After 20 years on the job, my company had a massive layoff and I became unemployed. I fell behind on my mortgage payments with US Bank and applied for mortgage assistance. I submitted all documents requested, and was assigned to a Relationship Manager. A few weeks later I received a call from my Relationship Manager requesting additional documentation to process my request for assistance. According to the Relationship Manager, the underwriter, was requesting a letter from my employer to verify my employment, a current mortgage statement for my properties, a Homeowner Insurance Declaration page, a 2015 tax bill, XXXX recent bank statements and the Homeowners Association Fee ( if applicable ). She also stated that if my property is a rental, I need to send a current lease, with XXXX recent bank statements and circle the rental deposits or send canceled checks. Please note, this property is not a rental, it is my primary residence so I was taken back by their request but I immediately complied and submitted all documents via fax and email. To ensure that my application was complete and to avoid any future discrepancies regarding my rentals, I circled the rental deposits on the bank statements to show proof of my rental income as stated upon my application and advised by the Relationship Manager. Shortly thereafter, the Relationship Manager called me again, requesting the exact same documents again. Once again, I submitted the documents and waited to hear back from US Bank. 
Approximately XXXX weeks later, my Relationship Manager notified me again, that she needed the mortgage statements, another letter of employment clarifying the gift card payouts stating the frequency of how often gift cards are paid out, and a copy of the 2015 tax bill. I complied and resubmitted the documents, my employer wrote another letter stating the frequency of gift card pay outs and I resubmitted the mortgage statements and 2015 tax bill. Now that I have submitted these documents XXXX times, I did not think it would be long before I received an updated status on my application. However on or around XXXX XXXX, 2015 I received a call from my Relationship Manager, stating that they need another copy of my mortgage statement because it is not in the file. Since I had submitted the mortgage statements XXXX times already I could not understand why it would not be in the file, but I complied and sent it again via email and fax. Due to the poor mishandling of my file over the past month and a fast approaching deadline of XXXX XXXX, 2015 to have my documents evaluated by an underwriter, I made the request that US Bank reply, by letting me know they have all documents since I have submitted new documents XXXX times already. I received a response that all documents had been received and the file was now with an underwriter. On, or around the XXXX week in XXXX, I received a call that my file had been denied since I failed to submit mortgage statements as requested. I was absolutely appalled since I had resubmitted these documents XXXX times already. So while on the phone, I requested that the US Bank representative review my file because the mortgage statements should be there. After going through my file, he quickly located the mortgage statements, apologized and stated he would resubmit my file and call me back in 24 hours. I never heard back from him so I called back. I spoke to another representative who also confirmed my file was denied since I failed to submit my mortgage statements. I explained the situation and the file was forwarded a supervisor, who escalated the file back to underwriting. Due to the poor negligence in handling my file, I want the CFPB to conduct a thorough investigation in the practices of US Bank and how I was treated.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation