U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting Colorado

In - 2016, I applied for a refinanced mortgage from US Bank. I have had multiple accounts from US Bank for decades. The mortgage I wished to refinance is an ARM that I wanted to refinance to a fixed rate loan. I have lived in the same house and paid on the mortgage for almost 15 years. The refinance was going to be 80 % loan to value. Because I 'm retired, I do not have - income. In addition to Social Security income I have income from investments and real estate. I was required by US Bank 's underwriters submit a huge amount of documentation. The bank 's document requests dragged on for months, costing me inordinate amounts of time and inconvenience. On Monday, US Bank denied my refinance application, because they said my debt to income ratio was too high. I never saw their analysis of debt to income, but I believe they were completely misinterpreting the documents that I had submitted. My only debt is my mortgage, and when I compute my debt to income ratio using conservative assumptions, my debt to income ratio is about 30 %.