Consumer complaint received 2026-01-29 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Closing on a mortgage — Closing disclosure or other related disclosures
Company: U.S. BANCORP
State: FL

Complaint narrative:
I closed on a residential construction loan with U.S. Bank in XX/XX/year>. At closing, the final Closing Disclosure reflected a loan amount of {>= $1,000,000}, a finalized cash-to-close that was paid in full, and a construction funding structure under which construction costs would be paid through loan disbursements. 

Several months after closingand after construction had commencedU.S. Bank asserted for the first time, in XX/XX/year>, that the loan was underfunded and that I am required to contribute approximately {$70000.00} post-closing to fund a portion of the project. This alleged obligation was never disclosed prior to or at closing, is not reflected on the executed Closing Disclosure, and was not identified as a borrower funding requirement at any point during the closing process. 

Upon first being notified of this alleged shortfall in XX/XX/year>, I promptly requested written clarification identifying the contractual or disclosure-based basis for any such post-closing borrower obligation, as well as clear instructions for how construction draws were to proceed. No such clarification or documentation was provided at that time. 

After I raised concerns regarding this alleged shortfall, a U.S. Bank representative later provided an email containing adjusted figures to the previously finalized Closing Disclosure. These adjusted figures were not part of the executed Closing Disclosure, were not formally re-disclosed, and were not acknowledged or agreed to by me. This further contributed to confusion regarding my obligations and reinforced my concern that the alleged post-closing funding requirement is being reconstructed after the fact rather than based on the executed loan disclosures. 

Despite repeated written requests since XX/XX/year>, U.S. Bank has not provided : 1. Written confirmation from a senior mortgage operations, risk, or compliance reviewer that there is any contractual or disclosure-based obligation requiring post-closing borrower funding related to this amount ; or 2. Clear written instructions enabling the builder to submit a construction draw so that work may proceed in accordance with the loan documents.

Instead, after a prolonged period without substantive response, U.S. Bank later reasserted that I am responsible for the approximately {$70000.00} amount without addressing my prior requests for clarification or providing supporting documentation. The bank has indicated that the matter is under internal review, during which time construction progress has been impacted. 

I also want to note that I have been diagnosed with XXXX XXXX and manage a chronic medical condition that makes prolonged uncertainty and delays particularly impactful. The lack of clear written guidance, extended delays, and shifting explanations have created unnecessary stress and have materially affected my ability to manage both my health and the construction process. 

I am not refusing to comply with my loan obligations. I am requesting that U.S. Bank either : Confirm, in writing, that there is no post-closing borrower funding obligation beyond what was disclosed and paid at closing, and allow construction draws to proceed ; or Identify, in writing, the specific executed loan document or disclosure that contractually requires this alleged post-closing payment. 

I am requesting CFPB assistance to ensure that U.S. Bank adheres to the terms and disclosures of the executed loan, provides a clear written determination, and enables the construction loan to proceed without imposing undisclosed post-closing funding obligations.

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