U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Illinois

I worked with US Bank to secure financing for a condo -. I worked with - - at US Bank to get information on my loan. Initially, I was informed that I had sufficient information. Once I started working with Loan Processor - - -, it all went down hill. Due to US Banks extremely high closing costs, I reached out to - to update the amount of my down payment, so I could free up cash for closing cost. - informed me this was ok. Feel confident and getting reassurance from US Bank , I proceeded with the loan. However, things started feeling odd. For example, - was persistent that I pay for an appraisal BEFORE their 'internal ' condo approval board even said that the place was ok to extend lending. I was able to catch this and refused, saying we needed to wait for US Bank to approve the condo 's - financials. - was extremely pushy and said that we would not make the closing date if I did not pay for the appraisal. I said that was fine and worked with the sellers.


What is the worst part is that after I had written confirmation from - that $ - down payment would be fine for the loan, US Bank called to request that I pay an application fee. After I paid the $390.00 application fee, US Bank informed me that I needed to come up with $ - more for closing. At this point I am completely dumbfounded. Not only do I never get complete answers from US Bank, they systematically lied to me throughout the entire process. If I would not have caught the appraisal that - - was pushing on me, I would be out close to $900.00. Instead, I am out $390.00 that was charged to my US Bank credit card ( so much for loyalty, right!? ) Needless to say, I was I have loan approval through another lender and I am closing on my place on -, with a lower interest rate. I was able to easily secure financing without the incompetence of - - and the rest of the people at US Bank. It was complete night and day between my new lender and US Bank as far as keeping me informed and making sure I understood the process and what I was paying for. US Bank made it clear that they just wanted my money-so enjoy the $390.00 application fee you should have never accepted US Bank. Needless to say, I will be closing all my accounts soon.