Consumer complaint received 2024-09-23 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: U.S. BANCORP
State: AK

Complaint narrative:
To Consumer Finance, I spoke with a representative at [ XXXX ] US Bank regarding my ongoing concerns about my VA loan assumption, following a letter from the U.S. Bank Customer Advocacy Department. There should be a record of my conversations with either a representative or supervisor from those interactions. During the calls, I specifically requested a follow-up regarding the inquiry letter I had received, but since then, no one has returned my calls, nor have I received any further correspondence. I have repeatedly requested a XXXX return package, but to no avail. This process, which began on XX/XX/XXXX, has been a significant financial burden for my family and has caused both mental and emotional stress. 

In addition to these frustrations, I am dealing with illness in my family, both in and out of state. Every time I receive a notice from the loan assumption department, I am forced to interrupt my life, return home, gather the necessary paperwork, and send it back. This cycle has repeated for nearly two years, compounding my stress during an already difficult time. 

In my last email from my loan officer, I was informed that I failed to submit page 3 of a document related to my USAA bank account. Once again, I had to return home to figure out what was required. After being out of town for more than 20 days, I was told by a VA loan assumption representative that she had sent paperwork to me. She provided a link that I was unable to open, and to this day, I am unsure of what was sent. When I sought clarification, the representative simply stated that she had sent a link, which has left me with many unanswered questions about what was sent, what is still missing, and whether my personal information has been compromised. 

This uncertainty has raised serious concerns about a potential breach of my private information. As someone who has been vigilant about monitoring my credit since purchasing my first car in my XXXX, the lack of security and transparency during this process has made me feel vulnerable. Multiple individuals have handled my paperwork, and Ive had to resubmit the same documents repeatedly due to high turnover within the department. Meanwhile, other loan companies have started contacting me, inquiring about my VA loan assumption. These calls have only added unnecessary stress and confusion, making me question how they have access to my information. 

Once again, after receiving a letter from U.S. Bank Customer Advocacya department that no one seems to have knowledge ofI reached out several times, but no one has contacted me. Despite making every effort to comply, the financial burden ( such as paying off my car loan ) and the emotional toll of constantly returning home to address these issues have become unbearable. 

The frequent changes in loan processors, lack of transparency, and poor communication have been the primary reasons for the delays. 

To add to my frustration, I received a letter dated XX/XX/XXXXXXXX from U.S. Bank stating that my loan assumption was denied due to being " unable to verify income '' and " unable to verify credit references. '' There was no communication from U.S. Bank, no XXXX  package sent, and no one contacted me. Once again, I contacted U.S. Bank and was told that if I submitted a new application, I could speak with loan assumptions. 

The entire process has been overwhelming, and I urge immediate action to resolve this situation. 

Sincerely, XXXX XXXX Loan number 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 non-monetary relief