Consumer complaint received 2015-06-05
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: U.S. BANCORP (WI)

On XX/XX/XXXX, at approximately XXXX, I met with XXXX in her office, NMLS # XXXX, a US Bank Mortgage Loan Originator in XXXX WI XXXX XXXX had requested some documents necessary to begin the loan processor. XXXX had me sign an authorization to pull my credit report. I was charged {$13.00} for that report. XXXX upon pulling my credit report, went over with me, line by line. I advised her about my foreclosure that my wife and I had in XX/XX/XXXX. XXXX noticed the foreclosure and an outstanding vehicle loan on my credit report. XXXX had advised me to pay off the car loan as soon as possible so to increase the likelihood of getting the loan approve. XXXX did not question or show any concerns about my foreclosure that happened in XX/XX/XXXX. About an hour later, XXXX presented me with a letter indicating that I was a qualified buyer and that I was pre-qualified for a Fixed Rate loan program with a sales price of {$84000.00} and a monthly PITI payment of {$700.00}. XXXX further said that I also qualified for the " American Dream '' program that was only available at US Bank NA. The requirements were that I had to be a XXXX time home buyer and not exceed income of approximately {$58000.00} XXXX this is an approximation, as I do not recall if she ever mention the exact amount ). There were other requirements, but those were the XXXX main significant criteria. XXXX affirm that I met the requirements and therefore advised me to start searching for my condominium. I left her office that day happy and excited. I started searching and contacted a re-estate agent by the name of XXXX XXXX. On XX/XX/XXXX, we had a signed accepted offer to purchase a condominium in XXXX, WI. XXXX XXXX and I learned as the days and weeks gone by that XXXX was moving and processing my application at a very very slow rate. XXXX and I have noticed how XXXX have tendencies of delaying documentations that were sent to her periodically to be sent to the proper departments within US Bank NA. On XX/XX/XXXXXXXX sent an email to XXXX and myself advising the condominium in XXXX, WI was denied. It took over a month for XXXX to give us an answer about the approval or denial of a prospective condominium in XXXX WI. Upon receiving the bad news, XXXX had advised me if you want, you can continue searching for another condominium to purchase. I did exactly what she suggested. I found another condominium in XXXX XXXX, WI. On XX/XX/XXXX, I got an accepted offer by the seller. I contacted XXXX and instructed XXXX to send in the condominium questionnaires to XXXX for her to process and send them to the proper departments within US Bank. The reason why I am writing this complaint to CFPB is of several reasons. My family and I started searching for a condominium to purchase on XX/XX/XXXX and we have to vacate our current apartment on XX/XX/XXXX. At the rate and speed of XXXX handling my loan, my family and I will be homeless. This is not the main concern in question. What concerns me and is troublesome is the fact that XXXX neglected, mishandled my loan in a unprofessional and unethical methods. I believe XXXX violated several ethical practices XXXX or laws ) within the professional guidelines of a Mortgage Loan Originator. On XX/XX/XXXX, XXXX and I decided that it was in my best interest to contact her manager XXXX XXXX NMLS # XXXX. I inform XXXX of my frustration on how XXXX constant delay. Upon finishing up my conversation with her manager, XXXX called and told me that I will be denied of my loan because of my foreclosure in XX/XX/XXXX. XXXX had misled me on XXXX occasions causing financial loss XXXX home inspection & credit report fees ) XXXX.