Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4365869
Complaint Overview
Complaint ID: 4365869
Company: U.S. Bancorp
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Michigan
ZIP Code: 48371
Date Received: 2021-05-10T12:00:00-05:00
Date Sent to Company: 2021-05-10T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I started the refinance process on or around XX/XX/20 and the process was moving forward, submitting documents, etc until the processor changed. I never received an update and emailed my processor and loan representative for an update. When I finally received an update the manager of the new processor was supposed to call and never did. I contacted again and finally got a response which she apologized for and stated needed additional documents, which I submitted. Our debt to income ratio was high and I paid off two accounts which based on the information from loan representative put us under the threshold. I emailed again to find out the status and was told the product had switched and the processor still had an issue with the debt to income ratio. My last email was to find out if the refinance was going to happen. I have not heard back yet. This has been a 7 month process with no progress. It has cost additional money every month the refinance has not happened and possibly cost a better rate option for refinance if I move to another company.
Frequently Asked Questions
What is Complaint #4365869 about?
Complaint #4365869 was filed against U.S. Bancorp regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-05-10T12:00:00-05:00.
How did U.S. Bancorp respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against U.S. Bancorp?
Yes, visit the U.S. Bancorp company profile at readthecomplaint.com/company/u-s-bancorp to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.