Consumer complaint received 2026-03-31 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Trying to communicate with the company to fix an issue with the application process
Company: U.S. BANCORP
State: CA

Complaint narrative:
I am filing a complaint against U.S. Bank regarding my mortgage loan for the property located at XXXX XXXX XXXX ( XXXX # XXXX ). From the beginning, I was clearly told by U.S. Bank that this loan was assumable. Based on that representation, my partners and I structured our ownership and long-term plans accordingly. In early XXXX, I was provided with a formal loan assumption package, paid approximately {$900.00} in processing fees, and submitted a full application. I was ultimately denied, and at that time I was also told that I could not include my husband on the loan. My husband and I purchased this property with business partners, and the goal has always been for us to assume the loan and allow our partners to be released so they can move forward with purchasing another home. Following the denial, I was explicitly advised by U.S. Bank that I should reapply once I completed my XXXX tax returns and could show increased income. I was also told that at that time my husband could be included on the loan, which would strengthen my application. Relying on this guidance, I incurred significant financial costs. I spent over {$10000.00} in legal fees to structure agreements with my partners based on the assumption that this loan was assumable. I also paid expedited fees to my CPA to complete my XXXX tax returns so I could reapply as instructed. After completing my tax returns and reaching out to U.S. Bank in early XXXX to proceed, I was then toldcontrary to all prior representationsthat the loan is not assumable until the first adjustment period at year XXXX, which is still approximately XXXX years away. This directly contradicts : The original information provided to me by U.S. Bank The fact that I was issued an assumption package and allowed to apply The guidance I received to reapply after completing my XXXX taxes The terms of my loan documents, which do not state that assumption is restricted until year XXXX Since receiving this new information, I have made numerous attempts to contact U.S. Bank for clarification. I have not received meaningful responses. I am repeatedly told only that the loan is not assumable until year XXXX, and no one has addressed the prior guidance, the financial harm I have incurred, or the fact that I was previously allowed to apply. Additionally, I have requested documentation showing where it states that the loan is not assumable until the first adjustment period. U.S. Bank has not provided any such documentation. The loan documents I signed indicate that the loan may be assumable with lender approval and do not contain this restriction. This situation has placed me and my partners in a very difficult position. My partners have been extremely patient while waiting to be released from the loan so they can move forward with their own home purchase, but this process has now been ongoing for over a year with no resolution. This issue involves : Misrepresentation and inconsistent information provided by U.S. Bank XXXX to honor prior guidance and representations Failure to provide requested documentation Significant financial harm due to reliance on incorrect information Unreasonable delays and lack of 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 monetary relief