U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Ohio

During our loan process, our mortgage loan officer did not fully disclose all of the information needed. For instance, as first time home buyers we were unaware that our interest rate would change if our closing occurred more than 60 days after we placed our offer. Even though we were in conversation with our loan officer before / between every step in the offer and negotiation process, this information was not disclosed to us until after we signed our contract. Also, as we came within a week of our closing date, we contacted our loan officer - only to receive an automated response informing us he would be on vacation until days after our closing. After making contact with our loan officer 's supervisor, the mortgage sales manager, we were informed that pieces of information were missing and we would have to postpone our closing for another day. With that postponement, the mortgage sales manager sent us updated closing documents. On these documents, our monthly mortgage payment was listed as $130.00 more than on the initial documents sent by the mortgage officer at least one month prior. This large difference was due to a calculation error by the mortgage officer. When this was brought to the attention of the mortgage sales manager, he refused to make any adjustments to the interest rate ( which was increased due to the non-disclosure of the impact our delayed closing would have on the rate ), fees, etc., despite conversations with the realtor and both buyers. This $130.00 increase in monthly payments significantly impacts our budget. The carelessness of the mortgage officer and the mortgage sales manager 's review of our paperwork has caused unnecessary stress.