Consumer complaint received 2024-01-12
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: U.S. BANCORP (MD)

On or about XX/XX/XXXX I had my attorney to write a letter to US Bank regarding my escrow account. US Bank is currently escrowing my house taxes and my home owners insurance however I was still paying {$670.00} per month when I first purchased the loan in XXXX. However as of XXXX I've been paying over {$1000.00} per month without an explanation. This was the reason for the letter from my attorney. I had my attorney to reach out and send a letter on or around XX/XX/XXXX and neither my attorney nor I have received a response. As my attorney was looking through my documents he noticed that my house taxes increased as well as my home insurance. I was never contacted about my home insurance rates going up nor my house taxes going up by mail or by phone by either the mortgage company nor the company. Therefore, my attorney suggested that I send a letter to CFPB to get a resolution regarding this matter. My home is currently listed as a rental dwelling when I have lived in the house since I obtained the loan in XX/XX/XXXX therefore those rates are incorrect. 

Overall the letter submitted to US Bank indicated that I will be paying for my own homeowners insurance and this should no longer be in my escrow nor escrowed by US Bank. Also, I will be paying for my own house taxes as well and this should not be escrowed by US Bank. I have already switched over my home insurance carrier but I'm still being charged escrow on it because US Bank either paid it in full or is still using the old policy that I canceled. 

Therefore US Bank should provide the following : 1. Indicate the date US Bank paid the XXXXXXXX XXXX Policy or which homeowners policy are they currently paying? 
2. Remove the payments they made regarding the XXXX XXXX Policy if any because I am currently paying it as XX/XX/XXXX to present therefore I do no need it escrowed by US Bank. Remove this from my escrow immediately with no charges to XXXX XXXX. The amount XXXX XXXX paid for this policy from XXXX XXXXPresent should still be active with XXXX and whatever payments US Bank paid should be removed from the XXXX Policy. 
XXXX. If US Bank is still paying on the XXXX XXXX XXXX policy this was canceled on XX/XX/XXXX and should no longer be an active policy. 
4. The payments made in escrow for XXXX XXXX Taxes should be sent back to XXXX XXXX effective immediately. The dates should be listed with the amounts paid to the escrow outlining the amounts that will be refunded to XXXX XXXX. XXXX XXXX will be paying XXXX XXXX XXXXXXXX XXXX XXXXXXXX directly and the escrow should be closed out with nothing escrowed moving forward. 
5. Place XXXX XXXX 's original loan amount from the current amount {$710.00} back to {$670.00} immediately as there is no reason my monthly payment has changed when the interest rate has stayed the same since XXXX. 
6. Explain this specific line item on my mortgage statement - XXXX XXXX XXXX XXXX. Send all escrow analysis for XXXX to my address on file immediately. 
8. Send all mortgage statements from XXXX XXXX XXXX for they are not on the website and I have not had access to them to my address on file immediately. 
9. Provide in writing the extra payments paid out with dates for my monthly mortgage to include the price difference from {$710.00} to {$670.00} ( and I may not have the actual amount for the {$670.00} monthly payment because I haven't paid this amount in a while ) This amount should be reimbursed immediately. 
10. Explain how the interest on the loan goes from XXXX dollars to XXXX dollars to XXXXXXXX dollars with the interest still staying the same since XX/XX/XXXX. Reimburse XXXX XXXX for all interest payments that were paid to interest falsely. Include dates of interest rates, cost and explanation for how the interest rate was raised when the interest rate has not changed.