Consumer complaint received 2026-06-16 00:00:00
Product: Mortgage — USDA mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: U.S. BANCORP
State: OK

Complaint narrative:
Summary of Complaint I am filing this complaint against U.S. Bank regarding misleading information, failure to properly disclose licensing limitations, and delays in processing my mortgage application after I disclosed my intent to use government-backed down payment assistance ( DPA ). These actions have jeopardized my ability to close on a home scheduled for XX/XX/year>. Timeline of Events XX/XX/year> ( XXXX XXXX ) : I called U.S. Bank to inquire about the USDA Rural Development 502 Guaranteed Loan Program. The first representative refused to provide his name when asked and became argumentative. I disconnected and called back. Second Call Representative : XXXX XXXX : I reported the prior incident and requested a supervisor. I then asked about : USDA 502 Guaranteed Loan Program First-time homebuyer down payment assistance ( DPA ) XXXX confirmed XXXX U.S. Bank participates in the USDA program U.S. Bank is licensed to lend in Kansas, Missouri, and Texas Following Days : I applied online and was prequalified for {$120000.00}, later increased to {$180000.00} I submitted requested financial and employment documentation Subsequent Actions Taken in Reliance : I entered into a contract on a home in Texas I signed with a realtor I paid earnest money Critical Disclosure After Commitment : When I contacted XXXX to confirm down payment assistance, and information on their US Bank Dream program , she stated : She does not hold all required licenses Using government DPA would delay closing by 3060 days Impact : My closing date is XX/XX/year> The seller is unwilling to extend due to competing offers My transaction is now at risk due to delays and prior misrepresentations Nature of the Issue I called US Bank Mortgage Customer service and was told by phone agents and XXXX a supervisor that a local US bank was supposed to handle my loan, not the XXXX mortgage phone reps. Exacerbating matters, she blind transferred me over there to their main line that required the input of prompts, and I never was able to speak to anyone. It was equivalent to call abandonment or disconnection. I believe U.S. Bank, through its representative, engaged in : Material Misrepresentation I was told the bank could handle loans in multiple states, including Texas This was later contradicted after I had already committed to a purchase Failure to Timely Disclose Licensing Limitations Licensing issues should have been disclosed before application and underwriting, not after contractual commitment Delay and Obstruction Related to Government Assistance After I disclosed intent to use down payment assistance, the process was delayed and restricted I was informed of extended timelines only after significant progress had been made Potential Legal Violations These actions may violate : Equal Credit Opportunity Act ( ECOA ) 15 U.S.C. 1691 Discriminatory treatment in a credit transaction based on lawful source of income ( including public assistance ) Fair Housing Act ( FHA ) 42 U.S.C. 3605 Discrimination in residential real estate-related transactions Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) Dodd-Frank Act Misleading statements regarding licensing and loan capabilities Failure to provide accurate and timely information affecting a consumers financial decision Specific Concerns My application appears to have been : Delayed after disclosure of DPA usage Subjected to different treatment compared to standard financing Mismanaged due to internal licensing issues that were not disclosed upfront The lenders actions created : Financial risk ( loss of earnest money ) Loss of housing opportunity Emotional distress and uncertainty Requested Resolution I respectfully request that the CFPB : Investigate U.S. Banks handling of my loan application Determine whether : Misrepresentation occurred There was discriminatory treatment tied to DPA usage Require U.S. Bank to : Expedite my loan through a properly licensed lender Honor the originally represented loan capabilities and timelines, if possible Provide guidance on recovering damages if my transaction fails Supporting Documentation Available Upon Request Email communications with XXXX XXXX Loan prequalification documentation Purchase contract and earnest money receipt Timeline of communications I certify that the above information is accurate to the best of my knowledge. XXXX XXXX XXXX

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 explanation