Consumer complaint received 2025-02-03 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: U.S. BANCORP
State: MO

Complaint narrative:
Over the last 3yrs I have been dealing with US Bank and their " Insurance Services '' team about force-placed insurance that was inappropriately and inaccurately required to be paid, while maintaining my own personal insurance. Stemming from a complete remodel of my home and while under construction, i maintained a builders risk policy as appropriate for the process. My wife and I along with our XXXX children did not occupy the property during construction as it was inhabitable. US bank claimed on several different occasions that we did not have the correct insurance coverage. I submitted to them several different times our policies and they were accepted by US Bank and then refunded the money to me that had been withdrawn from my account during the time in question. A few months after this first instance, another letter was received regarding the need to document insurance coverage for the same exact time period previously in question. Another 3-4 months of submitting the same documents, to have their management team review, accept, and then later refund the applied payments of the force placed insurance with my mortgage payments. Similiar to the previous statements another 6 months goes by, now we are well over a year and a half past the time period in question, another letter is recieved stating they are forcing placed insurance yet again, for the same time period after having approved and refunded the same period in question two other times. It is now a year in to the process with US Bank, for a time period that is now over 2.5yrs old, and they are forcing insurance while i have maintained proper coverage all along. I continue to speak with management teams inside the " insurance services '' department who have repeatedly assured me they will make the necessary corrections and refund my money. After dealing with those statements with no action i have continued to call the department, only to continue to speak with new people, new managers, and empty promises. The amount in question is {$13000.00}. US Bank has not allowed any corrections to made to the time period in question. They have already accepted and approved the same insurance for various months and waived approval on others. They have admittedly placed " back-dated '' insurance for a time period over 2.5 years in the past with no accountability or ability to remedy as the timeline is well out of reach. I have never missed a mortgage payment and in effort to protect my credit scores, I made sure all payments continued to be made, all the while US Bank has been forcing me to pay an additional {$1000.00} from a time period that is two years and six months in the past. I have spent countless hours on the phone with the Insurance Services people. I have been promised return phone calls from their management team members and senior management while never receiving them. They have made promises to correct and have not delivered these promises. I believe they have illegally placed " back-dated '' insurance coverage and are causing me consumer due to the inability to retroactively make any necessary adjustments to coverages previously accepted by US Bank , now that so much time as passed. I am being financially constrained and harmed by their actions.

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