I submitted an application with US Bank to refinance my home
at the low rate of 3.65%. The initial appraisal came back good, and I
submitted all requested documents to them within 24 hours.
US Bank Home Mortgage stalled the loan process by asking for
lots of non-relevant documents/explanations, and then waiting 5-10 days to
respond back to me, each time asking for more information. The stalling caused
the process to take over five months, during which time the interest rates were
gradually rising.
As the loan neared closing, US Bank Home Mortgage ordered a second exterior-only
appraisal which came back $35K less than the first appraisal, and far less than
the market value of the home according to recent comparable sales and two
experienced real estate brokers.
Obviously, with interest rates on the rise, US Bank Home Mortgage did not
want to fund the loan at the 3.65% rate. They stalled the loan closing process, and
finally ordered an unfair exterior-only appraisal to ensure I would not qualify
for the original loan at the low rate.
Unethical banking practices, under-handed tactics, and zero integrity=BAD BANK.
I would not recommend US Bank Home Mortgage... Consumer beware!
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