Consumer complaint received 2016-04-28
Company: U.S. BANCORP
State: MN
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
After my husband 's chapter XXXX filing, we were no longer receiving mortgage statements from US Bank. They did however send an informational statement once per year. In reviewing, I noticed that the amount applied to interest seemed incorrect. We never missed a payment and always paid our payments on time. I requested and was sent a history of our account. A payment in XXXX XXXX, made on time and for the proper amount, was posted entirely to interest. In addition, the amount applied to principal was larger some months than others and at times, posted several days after received. When I called to question, I was told we had a simple interest mortgage and that the XXXX payment that was applied to interest was " probably for fees ''. I disputed the simple interest mortgage as I was sure our terms were conventional and when questioned more on what kind of fees we were assesed, was told my claim would be researched. After several phone calls I was told I needed to request everything in writing. Several letters have been back and forth. In one letter they told me I have a simple interest mortgage which explained how the payments were applied. When I requested proof that our mortgage was simple interest, they then made a correction of the misapplied payment from XXXX and explained that our mortgage was not simple interest that this was an error. I called to request explaination of how the correction amount was calculated and was told they used an amortization schedule. I requested a copy. They stated that one was sent with the letter ( it was not ) but they would send another. I never received. I called to request again and was told this was not possible with my type of mortgage. I explained that I was told this is how they corrected the error and I would like to see the numbers. After being put on hold, the rep said, ok we will send you one. This week, I received a letter saying they could not provide this to me but I could go online and find one. In the letter, they also stated that my maturity date for this loan is XXXX XXXX when it should be XXXX XXXX ... another error. It appears my mortage is incorrect and inaccurate but since I started this process one year ago, I have decided I need help to resolve this. I am not sure why this has been so difficult or has taken so long. In summary I would like 1 ) an explanation of the calculation that corrected the simple interest error and the misapplied payment 2 ) I ran my own amortization schedule and based on my findings, my principle is balance is currently incorrect, this need to be correct or provide me with a detailed explaination 3 ) Correction or detailed explaination of why my my maturity date is now XXXX XXXX ( stated in the XXXX XXXX letter ) when my loan documents state maturity date is XXXX XXXX. I also feel US Bank needs to be investigated. Had I not been extremely persistant, they would have never corrected my loan type or the misapplied payment. Consumers in bankruptcy do not receive statements, is US Bank using this to profit from " errors '' that are easy to hide when a consumer does not see how the payments are applied? In addition, do they make it so difficult and time consuming to resolve that they figure most people will give up? I am beyond frustrated and very disappointed.

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 monetary relief