Consumer complaint received 2021-11-25
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: U.S. BANCORP (MA)

I opened my mortgage account on XX/XX/XXXX with Leader Bank, and the account was sold and transferred to US Bank shortly thereafter. I received an Annual Escrow Account Disclosure Statement in late XXXX which showed an escrow balance shortage of {$2000.00} resulting in a significant increase of monthly mortgage payments of about {$200.00} per month commencing XX/XX/XXXX. 

After conducting a careful accounting investigation beginning from the closing disclosure and proceeding to the monthly payments and disbursements to the city of XXXX MA, I am confident there are many errors in the current escrow balance as well as the projection for 2022. I have contacted US Bank customer service numerous times, beginning on XX/XX/XXXX ( phone statement provided in XXXX ), and have spent a cumulative of over XXXX hours on the phone with their customer service, tax, and insurance departments. They have opened numerous investigations which have yielded no result and provided me with explanation letters from other customers that did not include the breakdown as promised ( XXXX pages received in the mail can be seen in XXXX ). 

There are XXXX main errors with the current escrow account history ( XXXX ) leading to the {$2000.00} shortage issue, below are the issues in order of importance : XXXX. Tax miscalculation : This calculation presents XXXX distinct scenarios. ( a ) the scenario it is supposed to be had US Bank not overpaid taxes ; ( b ) current scenario including the overpayment reported by the XXXX of XXXX MA. ( c ) scenario US Bank insists is the correct accounting. A detailed calculation with references to supporting evidence is presented in XXXX ( with a PDF equivalent XXXX ) XXXX. Incorrect beginning balance : It can be clearly seen from the closing disclosure ( XXXX ) that the beginning amount prior to any disbursements are {$1100.00} ( a detailed calculation of this can be found at top of XXXX ) and not a deficit of - {$1300.00} as stated in XXXX. 

XXXX. XXXX XXXX charges : XXXX XXXX of XXXX in Massachusetts does not charge property taxes. Property taxes are collected only by municipalities ( city taxes ). 

XXXX. XXXX XXXX : On page XXXX of escrow account history ( XXXX ) I am being charged {$220.00} hazard insurance even though my insurance is not on escrow. I said multiple times that I pay for walls-in coverage through condo fees. You may find proof of insurance in the attached document XXXX Although all attachments follow the narrative and are referenced above, below youll find a detailed description and source information for each of the documents. 

Attachment XXXX : Cellphone call logs obtained from the XXXX XXXX XXXX website. Numbers displayed in this document are for calls in an attempt to resolve this issue with both US Bank and originating bank Leader Bank. 

Attachment XXXX : These are scanned letters from US Bank received in the mail as a response to the multiple ongoing investigations. This letter references an Enclosed copy of the Customer Account Activity Statement, but the envelope contained other customer letters instead. 

Attachment XXXX : Annual Escrow Account Disclosure statement provided by US Bank via mail and through the website ( the attached document was downloaded on the website ). This document shows Attachment XXXX : Accounting with references of the XXXX different scenarios : ( a ) what it is supposed to be ; ( b ) what it is; and ( c ) what US Bank says it is. 

Attachment XXXX : Closing disclosure obtained from notarized closing documents. 

Attachment XXXX : XXXX XXXX bill obtained from the city of XXXX MA website for the parcel of interest. 

Attachment XXXX : Screenshot of transaction history ( the most official document provided by XXXX ) for the property. This screenshot was provided by XXXX XXXX ( XXXX, XXXX ) the Principal Account Clerk from the City of XXXX XXXX XXXX XXXX XXXX XXXX 

Attachment XXXX : Proof of insurance provided by the XXXX XXXX and presented at closing. Closing docs also reflect that there is no XXXX Mortgage XXXX and no hazardous insurance shall not be held in escrow nor is the property located in a flood zone.