US BANK ripoff fraudulent billing Bloomington Minnesota
I was going to apply for a refinancing loan at the same bank I have my current loan. I went to my local USBANK and she told me that I would receive a call to get the application started. The lady that called me asked for a credit card number so she could add it to the application for their fee of $400 (outrageous fee). I assumed that the fee would not kick in until I made application. I received an application in the mail and it had a 5% closing cost with points added.
It wasn't an application at all. It was final papers to get the loan started. I called her back and objected to the application and told her that I would not do a loan like that with the wrong interest rate and points added and such a large closing cost. A few days later there was a charge on my credit card for $400 for an application that I never sent in. My wife never even got a chance to see it. I then received calls from the appraiser, title insurance and received a credit score in the mail.
I never authorized any of it. I just wanted an application to fill out and a good faith estimate. I went back in the bank to demand my money back. They seemed shocked that I would even ask. They told me that "we had a verbal agreement on the phone."!!! I didn't know banks made verbal agreements. I'll see in the next few days if they refund my money. If not, I'll take them to court. This is one of many sleasy problems I have had with USBANK in 11 years of business. My credit score is 797 and I have never been late or missed a payment with any place in my life. They sure know how to keep a guys business.
Steve
Bolivar, Missouri
U.S.A.
3 Updates & Rebuttals
Steve
Bolivar,Missouri,
U.S.A.
Credited twice
#4Author of original report
Sun, September 24, 2006
I received my credit from the credit card complay that holds my USBANK card but then USBANK mortgage company credited me $400 more. I have emailed them back two ways to get it fixed and I'm sure they will eventually get it done. I'm not too worried at this point.
On a bright note, I did secure a refinance with a local bank in town. They treated me really well. I will have an interest rate of 6% or APR of 6.164. Closing costs are around $1300. Thats good news. Very smooth so far with the new bank. I should close in a week or so. I saved about $1500 by avoiding the fees of USBANK.
Steve
Bolivar,Missouri,
U.S.A.
May be resolved
#4Author of original report
Sun, September 17, 2006
I called the 800 number on the back of my USBANK card and they will remove the charge until my local bank produces a signed application as proof that application was made. They were very nice about the whole thing and agreed that I cannot be charged without a signed application. I will continue to update when something happens.
Steve
Bolivar,Missouri,
U.S.A.
Update
#4Author of original report
Sun, September 17, 2006
I am still waiting on USBANK to respond in writing. So far I have emailed, visited and called several times without a resolution to the problem. Also, I wanted to correct a statement I made. 5% closing costs is wrong. It was approx 4%. $115,000 loan and $4100+ in closing costs.