U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Arizona

Mortgage loan # - We opened a mortgage loan with USBank on - 2016. It was a very long process over 90 days ... the appraiser was not knowledgeable and was being sanctioned by the state for his mistakes ; we provided supporting docs to the local branch and requested a new appraisal and appraiser ; still they did n't do anything. It took so long that the builder even issued a cure notice and we were close to loose a large down payment thank to this bank inefficiency. It was a construction loan and our downpayment was over 20 % of the appraisal value and I did n't want to include the escrow on the payment. The loan officer at the local US Bank branch - - told me that he checked with their construction department and based on the fact that we were doing a construction loan they were not able to waive escrow at the time of the closing but he said I could request to remove escrow after the construction switched to a regular jumbo loan, he said a year after closing- all communication with the loan officer was via email so I have this in


my policy - on -. I believe US Bank is not handling the escrow account properly and I called the bank to request the escrow to be waived. I was told by the beginning of - that in order to remove escrow I had to pay the escrow shortage which is far enough and I understand but they are on top requesting a 1.5 % of the unpaid principal balance to remove the taxes and insurance from the escrow and 1.25 % to remove just taxes. Today -/-/16 - I called again and spoke to a senior rep with US Bank customer service - who had that kind of an attitude " i know all '' and spoke over me a few times and she said that the escrow waiver fee was 1.25 % either if I wanted to remove taxes and insurance or just taxes ; how frustrating is to get contradicting information. I requested the first time I called in - 2016 a copy of any escrow agreement I might have signed at the time of closing where I agree to pay a fee if the escrow was removed. I did not get anything and today I requested it again. Today I was told there was not such document ; again contradicting information.Any of my closing docs show anything about me agreeing too pay an escrow waiver fee to remove escrow.