Consumer complaint received 2021-08-23
Company: U.S. BANCORP
State: MO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I'm supposed to close on a house on XX/XX/2021. On XX/XX/XXXX just after XXXX XXXX, I received a call from XXXX XXXX, a Mortgage Loan Processor, asking me if XXXX XXXX, my Mortgage Telesales Rep - NMLS XXXX, had been in contact with me recently to discuss some numbers. I said no and that I hadn't heard from him since XX/XX/XXXX. She then proceeded to tell me that there was a mess up with the loan because the appraisal revealed the home was manufactured. She said she herself didn't know until recently, but had been waiting on XXXX to call me and let me know. 
Due to the mess up, the LTV ratio could not be 100 % like I was requesting ( Of the XXXX home, they were giving me about XXXX with around XXXX for a downpayment as long as I was able to put down XXXX. Of the XXXX, XXXX credit from the seller for closing cost and XXXX was for home insurance for the first year ). In addition to the XXXX cash, I now had to come up with an additional XXXX. She also said that she knew I had to turn in my 30 day notice to my current landlord and had told XXXX to take care of things beforehand so that. ( I have to be out by XX/XX/XXXX. ) She said she was going to bring this to her and his supervisors to figure out what could be done. 
The following day, I got an email from XXXX explaining that he didn't know that it was a manufactured home, that he was submitting the loan for an one-time exception for the full amount, and would possibly give up his commission to help me pay for things. At that I found an email I sent to him on XX/XX/2021 at XXXX XXXX stating that it was a modular home and if there was any other information he needed. He said he would have to check with his manager to see if we offer that loan, which they did. ( I still have these emails ). 
No other inquires were made on the type of property and I didn't know the difference between a modular home and a manufactured home. However, from the inspection ( which came out before the appraisal ), you could see the supports under the crawl space. Also, if the listing has the home as an one-story, manufactured home. I immediately sent this information to XXXX as I felt like she was the only one I could trust to help me. 
On that Friday, she contacted me letting me know that exception was denied. I asked for XXXX XXXX supervisor 's number, XXXX XXXX, and attempted to call him. I had to leave a voicemail. He did get back with me on Monday, let me know that the exception had been denied. XXXX then admitted that it was XXXX 's fault it wasn't caught and had a few opportunities to fix it, from googling the address, the listing page, and even the inspection. However, there was nothing else they could do. XXXX also said that XXXX should have never offered his commission to help as an employee could not help out with a loan. 
At XXXX XXXX today ( XX/XX/XXXX ), I received an email from XXXX letting me know that I need a structural engineering report, 4 days before I'm supposed to close. He also stated " My manager XXXX XXXX will do his best to get you a lender credit to compensate you back. '' Luckily I was able to find someone who is willing to do it this Thursday, XX/XX/XXXX who stated they would be able to give the report same day.

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 non-monetary relief