Consumer complaint received 2023-10-17
Company: U.S. BANCORP
State: WI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-issue: Trying to communicate with the company to fix an issue with the application process

Complaint:
My husband and I applied for refinancing of our mortgage loan. An issue arose regarding {$360000.00} in XXXX  loan debt. The bank was provided with a copy from the XXXX loan provider that the debt was forgiven. However I was told the letter was not sufficient because the debt still reflected on my credit report. I was advised to contact the XXXX loan carrier and get documentation. I was advised by the XXXX  loan carrier to login into my XXXX account and provide the bank with a screen shot of my account which reflected the correct balance. I did that and forwarded it to the bank. After a week, I contacted the bank and they said the issue is still not resolved and that I need to join a call with their third party verification provider to verify that the debt was forgiven. I participated in the call, but the verification person ( hired by the bank ) stated that the hold time was too long and that she could not wait. While on the phone with the verification person I called the Loan Processor, XXXX and explained that the verification person refuses to wait on hold. XXXX XXXX response was that they could use the automated line. When the verification provider reported the information to the bank they did not address the {$360000.00} adjusted loan because technically needed to speak with a representative. As a result I was told we would not qualify. Although they were aware the information could not be verified. To help resolve the issue I reached out to the credit bureau and they confirmed that the loan had been adjusted to XXXX however it would take 15 days to get a credit report. Representative recommended that I enroll in a credit program for {$19.00} per month and I would get access to my credit report immediately. I did that and I screen shot the XXXX balance information and forward it to the bank and was advised " great news. '' But they need to probably pull another credit report to verify XXXX updated information. When I previously requested them pull a second credit report after I confirmed that the XXXX balance adjustment was done after our initial application process. I was told no, they can't do that unless its 90 days or more " it will hurt my credit. '' I would also like to add when the bank sent the appraiser he assessed my home ( with a dirt driveway ) {$200000.00} the balance owe was {$59000.00} the loan request was {$120000.00}. Again week later I called to check status of loan and was told the appraiser needed to comeback to our home after the concreate was poured. That was never communicated to us and frankly why was it necessary ( it created over a week delay ). US Bank has intentionally created unequitable paths to obtaining refinancing. As you will see in the documents that I have attached the communication was unprofessional and in my opinion bias. Although members of management were included in the emails they had nothing to say about how to move things forward in a professional matter. My husband and I have been customers for more than 20 years and are shocked at what appears to be discriminatory practices. At our initial application meeting the processor XXXX XXXX question us about missed payments from over 5 years ago and later said the bank only goes back one year for the approval process. We consider that to be another violence of our rights to be treated with dignity and fairness

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