U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

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

I got behind in my mortgage and sold the house on a short sale in - 2016. Prior to the closing, in - 2016, a tree fell on the roof and damaged the house. I called the homeowners insurance agent, and the agent came out and assessed the damage. The homeowners insurance gave me a list of contractor from which I chose a contractor to complete the repairs. The homeowners insurance cut a check, made out to the contractor, US Bank, the mortgage company, and me. I endorsed the check and gave it to the contractor. The contractor sent it to US Bank to be held until the repairs were completed. In the meantime, the short sale was finalized. The repairs were not quite done at the time of closing, so I got the approval of the contractor, the insurance agent, and the buyer to close. All agreed since the insurance company had already provided the proceeds for the contractor. The short sale was closed and the settlement statement was sent to the insurance agent to ensure that the mortgage had been paid. However, once the contractor completed the repairs, about two weeks later, the contractor was unable to get


by the default department. I spoke to the default department, and they told me that the mortgage assistance department was the department that instructed. I spoke to the mortgage assistance department, and they told me that I would have to speak with the claims department. No one there understands why the funds that were earmarked for the contractor were applied to principle, but I ca n't get anyone to take responsibility and reverse the error. In the meantime, the contractor has not been paid and is looking to me to make the payment. I ca n't afford such a payment. That is why I had homeowners insurance. I would like US Bank to pay the contractor the funds that were sent to them that were earmarked for the repairs to the property. I filed the claim correctly and did followed all the procedures required by the insurance company and the mortgage company. I would have preferred giving the funds directly to the contractors, but was told that the US Bank had to be included on the check. Now they have acted dishonestly and will not correct the problem.