U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Texas

U.S. Bank is the current holder of my mortgage. My payment is due on the - of the month and I have always paid my bill on that day. Effective this -, U.S. Bank implemented a policy that assesses an 'online payment fee ' if the mortgage is paid after - - - on the - of the month. Since I live in a -, then this means the fee will be assessed after - -. on the - of the month. Given that I work during the day, this new constraint causes an undue burden for me as a consumer. Essentially, I am being charged a 'late fee ' despite the fact I am paying my bill on time. According to U.S. Bank, this is not a late fee. Instead, they claim that late fees are only applied after a 15 day grace period following the due date expires. This new 'online payment fee ' is not given as an 'online payment convenience fee ', - that is assessed across the board for online payments, but instead as a result of paying after a particular time. That is the definition of a 'late fee. ' I am being forced


-, this was not part of my original agreement. Had I known this would be the case, I would have moved my due date to later in the month. There are no U.S. Bank locations or subsidiaries in my city or nearby so I do not have the option of making the payment at a physical location. My remaining choices are then to either mail in a payment or pay the bill online. When I first set up my mortgage account and payment schedule, no such ridiculous fees were assessed and so, I chose a schedule that allowed me to pay my bill on the - of every month without incurring higher undue costs. Furthermore, I was not reasonably informed of these changes by U.S. Bank and how it would affect me. I happened to find out about it because I noticed the new field on my online payment page and called in to find out what it was about. This is not the first time I have had issues with U.S. Bank assessing an unnecessary fee on my account. Last summer there was another bogus charge on my account and calls to the customer service department yielded no results. Now, I 've had enough. This bank is predatory, unscrupulous and needs to be investigated for its business practices. I did not choose them to service my loan- they bought it in the secondary market. There is not a month that goes by that I do n't wish I could easily switch to another bank.