Consumer complaint received 2018-10-01
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: U.S. BANK NATIONAL ASSOCIATION - SAN FRANCISCO MAIN BRANCH (CA)

XX/XX/XXXX XXXX To : CFPB Subject : Union Bank is rogue Detailed Agreements between the customer and the Bank establish working arrangements designed to ensure coordination. However, when the Bank fails in its duty of care it unreasonably interferes with the work of its own staff as well as the customers financial well being.This is a cautionary tale of how Union Bank facilitates fraud and theft on its customers ; by the imposition of unbalanced arbitration agreements, to erode consumer power, and Home Equity accounts to conceal false filings, identity theft, and elder financial abuse. 
Due to many intentional accounting errors, false filings, and extortionate false foreclosures the Bank agreed to roll back our account to the transfer date of the equity account to a Fixed Rate Option, XX/XX/XXXX. But we made a mistake by not being more conscious and aware of the Banks record of perfidy.The Bank, acting in bad faith, failed to follow the published guidelines for making the Transfer and despite our numerous requests for a traditional mortgage misrepresented the contract as a mortgage, although it was a Home Equity contract. A contract which provides many advantages to the lender when conspiring to defraud customers. This is what transpired : We received a letter from the Residential Lending Service of Union Bank on XX/XX/XXXX, stating that the draw period for our Flex Equity account would expire on XX/XX/XXXX.The letter furthermore stated, If your line agreement includes a repayment plan option, failure to contact us will result in the Bank automatically converting the outstanding balance ..to a fixed rate loan after draw period maturity. But there is an alternative. The next paragraph reads : Choose from the following options : ... or refinance your account with a new mortgage product with Union Bank by calling ( XXXX ) XXXX and choosing a new loan option from the main menu. Upon receiving the letter I immediately called the XXXX XXXX office of the Bank and informed them that I wished to close the account with the intention of effecting a transfer to a traditional fixed rate mortgage. I received an interest rate quote of XXXX per month from XXXX XXXX, a loan officer there. 
However, probably by intention, the Bank failed to follow up the request with a Transfer Agreement ; despite several follow up calls.And when I contacted the Bank once again, in XX/XX/XXXX, inquiring if the Transfer had happened, I was told that it had not, and was quoted then an interest rate of XXXX per month. After a number of phone calls and strenuous objections, including a call from a lawyer, the quoted rate was reduced to XXXX per month on XX/XX/XXXX, when we received a call from Consumer Lending Service of the XXXX XXXX office of the Bank. We were informed that we had only 24 hours to sign a Fixed Rate Option Agreement that would be faxed to the XXXX XXXX office of the Bank. We immediately went to the office where we met with XXXX XXXX, a Vice President, who presented us with the Transfer Agreement. A week later we returned to sign the Agreement.  XXXX induced us to sign by stating that it represented an agreement for a traditional mortgage ; the option that we had chosen. But we were provided no time to read the Agreement, or refer the Agreement to a lawyer, in the time slot allotted, and we therefore signed the Agreement. Significantly, we were not given our chosen option, required in the Bank 's Disclosures, although we made our intention clearly known to XXXX with several queries. He assured us that was what we were getting, a traditional mortgage.XXXX   misrepresented the Agreement, and induced us to sign it by stating that, was fixed rate traditional mortgage. Nevertheless, the term period was allowed to expire by the Bank, without having transferred, until XX/XX/XXXX ; over which it added late penalties and incomplete payments for the next four months, plus a foreclosure notice because the Bank refused to exercise a direct deposit from the checking account ; accumulating thereby more negative amortization ; interest charges piled on interest. A HELOC, with onerous and biased contract conditions, had been imposed on the customers ; clearly fraud in the factum. 
Furthermore, I saw on one of the ( now ) monthly three recent statements that a charge of {$600.00}, displayed in very small type, was levied to the account for an appraisal that never happened. Never took place nor required for the Transfer. To obscure matters, the two accounts added to the customers property, without notice and agreement, facilitates the illegal practice of chopping up payments for the purpose of manufacturing allegations of incomplete payments and for weighing late penalties.The three accounts are also useful in hiding the bits and pieces in order to discourage tracking the system. I call it Whack the Mole!  Needless to say, it is not a legal American Accounting Standard.