Consumer complaint received 2026-03-05 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Fees or costs during the application process
Company: U.S. BANCORP
State: TX

Complaint narrative:
Complaint Regarding Mishandling of Loan Assumption Application and Improper Retention of Fees I am submitting this complaint regarding the handling of my loan assumption application with U.S. Bank. I believe my application was mishandled, my documentation and payment were lost during processing, and my concerns were not properly escalated despite repeated requests. As a result, I believe my application was unfairly denied and my application fees were improperly retained. At the end of XX/XX/year>, I initiated a loan assumption application with U.S. Bank related to a mortgage tied to my residence. My application was assigned to XXXX XXXX, who informed me that my application stamp date was XX/XX/XXXX. During the process, I submitted all requested documentation and XXXX money orders XXXX for {$920.00} and the other one for {$1000.00} order as part of the required fees. Shortly after submitting the payment, I was informed that the bank had lost my money order. I then had to work with XXXX XXXX to track and recover the missing payment, which required additional time and expense. I incurred a fee to replace or recover the money order, which U.S. Bank has refused to reimburse despite the payment being lost while in their possession. Communication from XXXX XXXX became inconsistent, and I was later informed he had been out sick with the XXXX, which delayed progress on my application. Later, I was contacted by XXXX XXXX stating that the previous XXXX had been let go and stated he would be taking over my case. Once XXXX XXXX took over, I requested that my concerns about the lost payment, delays, and handling of my file be escalated to the appropriate department. These requests were not addressed. On XX/XX/XXXX, XXXX XXXX emailed stating I had until XXXX XXXX that day to submit additional documentation. I did not see the email until after XXXX XXXX. When I called him, he extended the deadline until XXXX XXXX. This short timeline required me to leave work early and lose income in order to gather and submit the requested documents. I still submitted the documentation by the XXXX XXXX deadline. Despite complying with the request, my loan assumption application was denied on XX/XX/XXXX. The stated reason was that my debt-to-income ratio exceeded FHA guideline limits. Given the delays caused by the initial representative, the loss of my payment, and the reassignment of my file, I have concerns about whether my application was properly reviewed before being denied. I request a full investigation into how my application was handled, a review of the underwriting decision and XXXX calculation used to deny my application, reimbursement of all application-related fees including the fee incurred recovering the lost money order, and a review of the conduct of the representatives involved.

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