Consumer complaint received 2023-01-05
Company: U.S. BANCORP
State: WA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Hello : In XX/XX/XXXX, My mortgage forbearance program with US Bank ceased, and I was scheduled to resume my interest-only payments of {$3000.00} per month beginning in XX/XX/XXXX ( XXXX year ago from this email ). 

At the same time I was scheduled to resume my payments, the interest rate decreased ( variable rate adjusting annually ), which decreased my payment from {$3000.00} to {$2300.00}. I was very pleased indeed! The US Bank customer service representative helping me with transitioning off the forbearance program said I needed to make XXXX payment at the old amount before the new lower payment amount would take effect. So, I made this payment, on time, in early XX/XX/XXXX. 

A month later, I was receiving mortgage statements from US Bank indicating that I was past due with my payments and the nightmare began. 

Beginning with my statement for my XX/XX/XXXX payment due, US Bank indicated that I was {$5400.00} past due. My statement for my XX/XX/XXXX payment indicated that I was now {$7800.00} past due. Since this statement, all of my statements alleged that I was {$7800.00} past due. This continued until I sold my home and paid off the loan balance. The pay-off amount included with alleged past due amount, and I am seeking to have it refunded with no success. 

During the 2022 year, I have had several calls, and spent many hours on the phone, with US Bank Customer Service Representatives trying to get this resolved while they harassed me every month with certified letters threatening foreclosure. This was extremely psychological debilitating for me because I was afraid they were going to ruin my XXXX XXXX and take actions to foreclose on my home when I was current with all my payments. I have checking account statements proving I have always been on time with my payments. 

Each time we had a call to try and resolve the matter, it ended with the US Bank representative telling me that they has a " system change '' in XX/XX/XXXX that resulted in me receiving XXXX XX/XX/XXXX statements as my {$3000.00} payment could not be applied to my account. They just couldn't get it out of " suspense '' They said that a help ticket had been opened with their research department and that I would be receiving a call " soon ''. No one ever called me - ever- during the past year. 

On XX/XX/XXXX, I sold my house and this US Bank loan was paid-off with the close of escrow. As I said earlier, the pay-off amount included the {$7800.00} that they alleged was past due. I tried to fight it but needed to close escrow. They had me in a really desperate spot as I had to close escrow because I was moving to another home that was essentially simultaneously closing in XXXX, Washington the following morning XX/XX/XXXX. 

So, today ( XX/XX/XXXX ), I was on the phone, yet again, with a US Bank customer service representative asking them for a complete accounting and refund of amounts they took at pay-off that were not due to them. They are still telling me that the " research department is looking into it '', and they will " get back to me next week ''. I am so tired of their dismissive comment to me. I just can't believe this has been going on for one year now! It is gross negligence as best and criminal at worst. If I were a betting person, I would bet that I would never hear back from them. 

I wonder if this is a systemic problem that is affecting thousands of customers ' loan accounts? The big commercial banks have recently come under fire, and paid huge penalties, for their shady business practices. I wonder if we have such an issue here that is affecting more people than just me. Their explanation of a " system change '' and the fact that they seem to be hiding behind the " Research Department '' is very concerning and frustrating. 

Can you please help me get a complete accounting from US Bank that is supported by hard data explaining my account since I came off the forbearance program in XX/XX/XXXX? I have my own complete accounting and analysis, but it is falling on deaf ears. No one at US Bank cares. I know I am due back funds that are material to my financial condition. 

I appreciate you reading this long message and helping me. 

All the best, XXXX

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