Consumer complaint received 2026-02-09 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: U.S. BANCORP
State: CA

Complaint narrative:
CFPB Complaint Mortgage / Misrepresentation / Closing Issues ( Re-filed with New Evidence ) Product : Mortgage Company : U.S. Bank National Association Issue : Problems at closing / Inaccurate or misleading information What happened - I am re-filing this complaint to provide new written evidence that was not previously available and directly contradicts U.S. Banks prior CFPB response.

-This mortgage was for a Seattle investment property, which I clearly disclosed from the outset.

- Before submitting my offer, I specifically asked how much seller credit was allowable for an investment property. I was told verbally by the loan officer that the full {$40000.00} seller credit ( approximately 4 % ) was acceptable. 
- Based on that guidance, I proceeded with a purchase contract that became mutual and clearly reflected a {$40000.00} seller credit. 
- After the mutual offer and after the initial Loan Estimate and disclosures were issued, I raised questions about the disclosure details shown in the lenders portal. In response, a U.S. Bank loan officer wrote the following : * We will need you to complete the initial disclosures even though it says 30-year fixed to be able to keep everything moving forward.

* We lock the rate at 4.625 % and once we receive the fees from escrow, we can adjust the rate to make sure you use all of the {$40000.00} seller credit. 

This was a 'written ' representationprovided after disclosures on XX/XX/year> were issued and with full knowledge this was an investment propertythat the loan would be adjusted to ensure I could use all {$40000.00} of seller credit finally. It also conveyed that early disclosures were not final and would be corrected later when escrow receive the money! 

Underwriting then continued for several weeks with no correction or warning. I received confirmation that the loan was final approved.

The Closing Disclosure reflecting a reduced allowable credit was issued only three days before closing, after my loan contingency had passed. No loan officer contacted me to explain that the transaction structure I had relied upon was invalid. 

On the morning of closing, I was informed for the first time that the {$40000.00} seller credit was not allowable, and that I could either proceed under reduced terms or risk losing my earnest money. At that point, I had no practical ability to change lenders or renegotiate. 

This caused a direct and quantifiable financial loss of {$21000.00}. 



Prior CFPB complaint and why this re-filing is necessary I previously filed a CFPB complaint. In its response, U.S. Bank acknowledged that : * Incorrect verbal information was provided early in the process regarding seller credit eligibility. 

However, U.S. Bank relied on later written initial disclosures to deny responsibility and offered a {$5000.00} goodwill payment. 
That response did not address the written email quoted above, in which a loan officer explicitly stated that the loan would be adjusted to ensure use of all {$40000.00} seller credit after the escrow get the seller money and encouraged me to proceed despite disclosure inconsistencies. 

This new written evidence shows that my reliance was not limited to verbal conversations and directly contradicts the assertion that written disclosures clearly informed me of the true limitations. 

I am therefore requesting CFPB review based on the complete factual record, including this newly discovered written communication.

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