U.S. Bancorp Mortgage Complaint

U.S. Bancorp Mortgage department,

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

My home was flooded on -/-/-. Since that date I have been working diligently with my insurance adjuster and my mortgage company to get my damages estimated and the settlement checks negotiated. The 1st check from my insurance company for advance payment to be used for emergency repairs in the amount of $ - was issued to myself and US Bank on -/-/-. Once I received the check I endorsed the back of the check and paid to have it overnighted to US Bank on -/-/- in order to help expedite the process of getting funds released in order to get started with emergency repairs such as clean up and removal of water damaged finishes to prevent mold growth and replacement of damaged equipment such as air condensing unit. US Bank refused to release any of the funds until I provided them with the Insurance Company Adjusters Worksheet, Signed Contract/Proposal, Contractors Waiver of Lien, Internal Revenue - for my Contractor along with a Copy of the Contractors License. My Insurance adjuster then wrote a letter to US Bank on -/-/- explaining these funds were for the Advance Payment for the purpose of EMERGENCY REPAIRS to preformed. I forward my adjuster


insurance company and have the check re-issued for a lower dollar amount. Told me had the check been in the amount of $ - they could have released the funds already. My insurance company refused to re-issue another check citing the amount is what the adjuster requested for you to be able to begin the emergency process. I then went back to US Bank asking for an exception to be made to release at least $ - being I was told if check was issued for lower amount I would already have my funds. My request was escalated on -/-/- to a resolution team for review but takes 3 to 5 days for review. When I called to follow up on the exception request on the 5th day afterwards -/-/- I was told the request was not submitted until -/-/-. No explanation as to why it took 2 full days to be submitted. Again I would have to wait 3 to 5 business days before I would have an answer. On -/-/- US Bank approved for only $ - of the initial advance payment would be released. A check was then released on -/-/- in the amount of $ -. I have since forwarded all copies of all paid receipts along with all docs required and the 2nd check released from my Insurance company in the amount of $ -. and overnighted to US Bank on -/-/-. Followed up with US Bank on -/-/- and was told I had to request 1st draw. I requested 1st draw and was told I would receive a check for $ - and would then need to call for inspection once I reached 50 % complete before any more funds would be released. When I received the 1st draw that was requested the check was in the amount of $ - vs $ - as stated. I have placed numerous calls to no avail. I have also requested for my paid receipts that US Bank has had on file since -/-/- to be reimbursed and that too has had to be escalated to a committee for review. I was not aware that once I sent in my paid receipts that I would have to request reimbursement until I spoke with someone at US Bank on -/-/- in which I immediately requested. Today I was told that the request of reimbursement was not submitted until -/-/-. This Customer Service or Lack of Customer Service is unacceptable. US Bank has held onto my Insurance funds and is preventing me from being able to move forward with the rebuild process. There is no way to get to 50 % complete on a 1st draw amount of $ -. I know of no contractors that will work for free and wait to be reimbursed!