U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Wisconsin

On -/-/-, at approximately -, I met with - in her office, NMLS # -, a US Bank Mortgage Loan Originator in - WI - - had requested some documents necessary to begin the loan processor. - had me sign an authorization to pull my credit report. I was charged $13.00 for that report. - upon pulling my credit report, went over with me, line by line. I advised her about my foreclosure that my wife and I had in -/-/-. - noticed the foreclosure and an outstanding vehicle loan on my credit report. - had advised me to pay off the car loan as soon as possible so to increase the likelihood of getting the loan approve. - did not question or show any concerns about my foreclosure that happened in -/-/-. About an hour later, - presented me with a letter indicating that I was a qualified buyer and that I was pre-qualified for a Fixed Rate loan program with a sales price of $84000.00 and a monthly PITI payment of $700.00. - further said that I also qualified for the


There were other requirements, but those were the - main significant criteria. - affirm that I met the requirements and therefore advised me to start searching for my condominium. I left her office that day happy and excited. I started searching and contacted a re-estate agent by the name of - -. On -/-/-, we had a signed accepted offer to purchase a condominium in -, WI. - - and I learned as the days and weeks gone by that - was moving and processing my application at a very very slow rate. - and I have noticed how - have tendencies of delaying documentations that were sent to her periodically to be sent to the proper departments within US Bank NA. On -/-/-- sent an email to - and myself advising the condominium in -, WI was denied. It took over a month for - to give us an answer about the approval or denial of a prospective condominium in - WI. Upon receiving the bad news, - had advised me if you want, you can continue searching for another condominium to purchase. I did exactly what she suggested. I found another condominium in - -, WI. On -/-/-, I got an accepted offer by the seller. I contacted - and instructed - to send in the condominium questionnaires to - for her to process and send them to the proper departments within US Bank. The reason why I am writing this complaint to CFPB is of several reasons. My family and I started searching for a condominium to purchase on -/-/- and we have to vacate our current apartment on -/-/-. At the rate and speed of - handling my loan, my family and I will be homeless. This is not the main concern in question. What concerns me and is troublesome is the fact that - neglected, mishandled my loan in a unprofessional and unethical methods. I believe - violated several ethical practices - or laws ) within the professional guidelines of a Mortgage Loan Originator. On -/-/-, - and I decided that it was in my best interest to contact her manager - - NMLS # -. I inform - of my frustration on how - constant delay. Upon finishing up my conversation with her manager, - called and told me that I will be denied of my loan because of my foreclosure in -/-/-. - had misled me on - occasions causing financial loss - home inspection & credit report fees ) -.