Consumer complaint received 2024-02-16 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: U.S. BANCORP
State: CO

Complaint narrative:
I have been banking with USBank for over 20 years and have had a Heloc for the past 7 years. I tried to access my account on XXXX XXXX to find out that I couldnt access the funds. 

XXXX XXXX Called USbank to find out why I did not have any funds available. Was directed to local branch to get assistance. Local branch called and IM corporate. I was told that I need to contact the Title company for a subordination letter to reinstate the account. I sent the documentation from the refinance that occurred in XXXX to the subordination department as directed. 
XXXX XXXXCalled to ensure receipt of documents. Was told that the verbiage was incorrect and to resend with the correct verbiage. Obtained the original documents from refinance with the subordination of the Heloc and sent over via email. 
XXXX XXXX Called to ensure receipt. Received and it would take 3 business days to reinstate. 
XXXX XXXX No funds available. Called to find out that the subordination department doesnt deal with reinstating Helocs!! That I needed to talk with the loan department. Was transferred to the loan department that told me that I needed a reinstatement letter from the Title company. I explained that all the documents were sent previously, I need access to the funds and I have been working on this for over a week. Was told that the matter would be escalated to a Supervisor and that I would hear back in 24 hours. 
XXXX XXXXNo reply or communication from USbank. Called and spoke with the loan department again and was told that I now needed a reinstatement document from USbank to be signed by myself in order for the account to be reinstated. The document would be sent via USPS on XX/XX/XXXX as it needed to be prepared by the loan department. I asked if it could please be expedited and was told that it would be sent with priority. 
XXXX XXXX Nothing received. Called and spoke with a Supervisor who assured me that it did go out, that there was nothing she could do and that I just need to be patient! They did have all the documents necessary and that I would have access as soon as I get the signed letter back. 
XXXX XXXX Nothing received. Spoke with the loan department and was directed to a Supervisor who authorized the reinstatement letter to be sent via email so the matter could be expedited. I received it in less than 30 minutes!! Progress right? Nope! I sent over signed documents on XX/XX/XXXX and was then told that I needed a letter from Title to reinstate the account!! I spoke with a Supervisor who told me that is what was needed and that there was nothing that he could do. 
XXXX I reached out to my USbank mortgage banker who did the refinanced and that I have been working with for the past 30 years to see if she could help me. 
XXXX My banker reached out and found that the letter did not have the correct verbiage from the original closing documents and was working with the Title company to get the correct documents. 
XXXX My banker was told that the issue has been escalated and that it would take 3 business days to reinstate. 
XXXX No funds available. She contacted the person who she works with to ensure all documentation and verbiage is correct. Was ensured that all documents were correct and filed and that she would be contacted no later than XXXX. 
XXXXNo communication between the banker and USbank. She reached out to the loan department again and found that there was no movement on account. Asked to speak to the Supervisor once again. Left numerous messages and emails. No response. 
XXXX No communication from USBank . No funds available. 
XXXX No communication from USbank. No funds available. 
XXXX No communication from USBank . No funds available. 
XXXXNo communication from USBank.No funds available. 
XXXXResearched on how to file a complaint. 


It has been over a month and half and I still do not have access to funds that I have qualified for, made timely payments at a banking institution that I have held multiple accounts for over 209 years. It is absolutely absurd that even an employee can not get anything moved on my behalf. 

USBank can not be relied on for any assistance once so ever. I have been given the complete run around for over a month and half to only get frustrated, stressed and overwhelmed by the process and I still do not have access to funds in my account.

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