Consumer complaint received 2020-11-19
Company: U.S. BANCORP
State: NV
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
I completed a Loan Modification on my XXXX  with US Bank in XX/XX/XXXX due to hardship. I was instructed to make monthly payments of {$890.00} for XX/XX/XXXX, XXXX, XXXX & XXXX of XXXX as a trial period to finalize the modification. The payments were made and were on time. Those payments were reported to the credit bureaus as late, I don't understand why this is. XX/XX/XXXX, I received a cover letter & new loan terms with the existing XXXX cover letter reflecting a fixed rate of 3.5 %, {$410.00} towards P & I, and {$140.00} toward escrow. 
My new loan payment of {$550.00} was due on XX/XX/XXXX. A payment of {$550.00} was paid, {$360.00} applied towards the principal. {$190.00} applied towards interest and nothing being applied to escrow. The XXXX  XXXXXXXX XXXX  all payments due in the amount of {$410.00}, XXXX per monthly statements ) each payment was paid. XXXX XXXX XXXX  payments being applied towards P & I only. I made XXXX & XX/XX/XXXX property tax payments directly to the XXXX XXXX tax assessor & monthly payments to XXXX XXXX for homeowner insurance. XX/XX/XXXX payment due for modified agreement, was in the amount of {$1300.00}, requesting Principal Due {$220.00}, Interest Due {$190.00}, Escrow Insurance Due {$390.00}, Escrow Taxes Due {$470.00}, Other Due {$60.00}. This is the first time an escrow account has been established for the loan. I was never notified of a deficiency to an escrow account, I only received the large payment due XX/XX/XXXX, and my statement dated XX/XX/XXXX, is the first time an escrow account showed on any monthly statements. I called US Bank to inquire about the increased amount and was told the increased payment was due to having an escrow account. I have continued making payments and extra when I was able, but I am on a fixed income being on XXXX is why I applied for the hardship modification in XXXX. In XXXX I made a payment of {$600.00}, {$410.00} applied principal, {$190.00} applied toward escrow & nothing applied towards interest, escrow balance of {$820.00}. In XXXX I made a payment of {$410.00}, the full amount of {$410.00} applied towards escrow only, US Bank made property tax payments of {$260.00}, escrow balance of {$970.00}. Due to this required large payment, my account has suffered late fees, before this my account was current and up to date. In XXXX I made a payment of {$600.00}, {$410.00} applied principal, {$190.00} applied toward escrow & nothing applied towards interest, escrow balance of {$820.00}. In XXXX I made a payment of {$680.00}, {$220.00} applied principal, {$160.00} applied toward interest & {$290.00} applied towards escrow, escrow balance of {$1200.00}. As of XX/XX/XXXX, the amount due is {$1500.00}, my current escrow balance is {$1200.00}. There have been several errors made to my account since the finalization of my modification. I have contacted US Bank several times over the past XXXX  months to address this issue with no resolution. I contacted US Bank again on XX/XX/XXXX, the representative could not answer nor resolve my questions/issues. During the call, I requested a full audit of my account/loan. I also requested a report of escrow sent to me, the representative confirmed the audit/report would take 5-7 days to complete. As of XX/XX/XXXX, I have not received any update of the audit nor have I received a balance report. I contacted US Bank on XX/XX/XXXX, requesting an update. I was told by supervisor Isacc I have never seen a loan such a mess like this before. He was unable to provide an update with my request made on XX/XX/XXXX, he said all he can do is submit a ticket to request an update and it can take up to 3 business days to receive a reply back to him. XX/XX/XXXX, I went into a US Bank Branch located at XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, NV XXXX, to make a payment. The teller told me, they can not accept my payment because my account was in the process of being closed. I called the ( 800 ) customer services line, after being transferred to multiple representatives ( s ) there has been no confirmation on whether the account is or is not in the process of being closed. 

There have been several errors made to my loan since the finalization of my modification in XX/XX/XXXX, the following listed below is a REQUEST FOR INFORMATION/NOTICE OF ERROR UNDER RESPA REGULATION X 1.Establishing an escrow account 4 months into the new loan modification terms 2.Requesting the borrower to pay the payment of {$930.00} on XX/XX/XXXX, towards escrow without notice. ( ref RESPA regulations ; Escrow Account Analysis 12 CFR 1024.17 ( c ) ( 2 ) and ( 3 ) and 12 CFR 1024.17 ( k ) ) 3.Failure to apply an accepted payment to principal, interest, escrow, or other charges as required by the mortgage loan and applicable law ; 4.Failure to accept a payment that conforms to the servicer 's written requirements for the borrower to follow in making payments. 
5.Failure to pay taxes, insurance premiums, or other charges, including charges that the borrower and servicer have voluntarily agreed that the servicer should collect and pay, in a timely manner as required by 1024.34 ( a ), or to refund an escrow account balance as required by 1024.34 ( b ). 
6.Imposition of a fee or charge that the servicer lacks a reasonable basis to impose upon the borrower.

7.All additional errors relating to the servicing of my mortgage loan, payments, notices, balance ( s ), and status of my mortgage loan.

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