Montgomery, Alabama
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Not resolved
21 comments

I am writing to express how extremely dissatisfied I am with US Bank Mortgage insurance claim processing service. On April 28 I experienced severe storm damage to my home, in less then a week the insurance company had an estimator out and completed the assessment.

It is extensive (new roof, new siding and refinish deck). The insurance company had the paperwork and the check to me in 3 days, but the check came with US bank name and my name. I contacted US bank and it took over 8 days (to long) to get me the papers and instructions. In the mean time I found a good company and they provided a work estimate.

The week of 14 May I mailed a package to US Bank claim processing center, all the forms they needed from me and some from the company, I also mailed a requirement to the company of the things they needed to provide US Bank claim center and left on business for 1 week. I returned expecting some form of contact and waited the week of 28 May but no contact. So I initiated the contact and called the claims center, they told me the company had not supplied the documents needed. I called the company, they said they did and sent me the confirmation email from the US bank Claims office confirming receipt??

So I called the US Bank claims office back, they then told me yes they had everything but the estimate and form W9 from my company...that is when I told them this is absolutely totally dissatisfied with the service they provide, it is the poorest customer service I have ever experienced! The damage (major) occurred 28 April, it is 7 June and I do not have a start date for work. Every house around me has new siding and roofs, the neighbors ask me what is the hold up and I answer US Bank claims. My main issue is lack of follow up by the claims office, to wait until the Loan Holder calls in is simply unacceptable.

If they had sent me an email back the week 25 May when my contractor emailed the documents to tell me what was needed, I would probably not be wasting my time complaining. Yesterday I called once again to ask status, they said they had what they needed but it would take 2 to 3 business days to process, then it would take another 8 to 12 days to authorize the initial payment to the company. I have been in the customer service business 40 years; if I operated like they do I would have been out of the business long ago.

There is no concern because they have you and you have no other alternative, so you are stuck with what you get. I processed a claim with GEICO Ins and Wells Fargo Mortgage Co on a second home I own, very similar, but much much easier and timely...I am thoroughly disgusted with how US Bank treats customers with claims and I will be looking to re-finance my loan for sure.

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Anonymous
#1735586

My situation with the property loss department is similar. They are holding hostage funds in excess of $40K.

My house repair is 90% complete which makes me entitled to an inspection (post a satisfactory inspection USBank must release the funds back to me). I have requested the inspection 5x, only to learn they cancel it, as "unapproved." There is no communication from this department to me as to why the inspection does not get scheduled. It is on me (the homeowner) to contact them for allow follow up. They do nothing pro-actively to support your efforts to claim your own money for repairs.

It is evident this department does everything possible to avoid completing steps to release the funding to the homeowner.

They have forced me to fund my own rebuild. It makes me wonder if they are wanting to force their mortgage holders into default on their loans.

Anonymous
#1727947

I am going through a similar ordeal with US Bank Claims Center. I am totally disappointed with US Bank and their third party claims center (Propertyclaim.com)!

I experienced a house fire in January 2019. After months of dealing with the insurance company and searching for a reputable contractor, I successfully found one. In June, my contractor provided all the necessary/requested paper work to US Bank's claim center. Then sometime in July, US Bank changed their third party claims to a new company Propertyclaim.com, which whom openly admits to being majorly behind on customer's request and also states that some documentation were merged over to their system, when others were not.

This new company is asking for paperwork that has already been provided and approved. They will not disburse funds to my contractor, which has forced me to pay out of pocket to keep the project progressing. They have not issued the contractor his initial payment, which I had to cover so the contractor could get started. So now it's time for the second disbursement and they still haven't reimbursed me for the first installment.

They sent an inspector out to inspect the completed work. He was only there for 3 seconds. He did not leave any paperwork, but relayed to Propertyclaims.com the job was only 40% completed, which is incorrect. The flooring is installed, the lighting is installed, all drywall is done.

The only things left to do is paint, install cabinets and countertops. Now we are on hold because US Bank Claims is refusing to give this man his money. This is costing me extra because the contractor changes a daily cost for delay of project! This is totally unacceptable.

So when I contact 855-205-6857, I can never speak with a manager because no one is ever available and the people that are available are not helpful and can never provide any assistance. I will be contacting the Better Business Bureau!

Anonymous
#1720189

Going thru the same thing right now. Major water damage from broken pipe in kitchen wall.

Insurance company paid with checks made payable to me and USBank. Now USBank just delays, delays, and delays. Never get call backs when asking for supervisors. I've paid for almost all of the work on this project out of my pocket and I can't get them to schedule an inspection to release my funds.

The most maddening part is that I never entered into a relationship with USBank. My mortgage servicing was sold to them and now I'm stuck.

Anonymous
#1719419

I am going through the same. 2 months and I have not received a check back from USB.

its only $6000. I have no working bathroom due to water damage by the pipe that broke in the drywall. USB are stonewalling on every step of the way despite all the documents I have sent. I received a check from insurance with USB name on it since it was more than $5000.

they deposited in the restricted escrow and I am still waiting. This is bad.

Anonymous
#1578000

I have had similar issues with US Bank and their payment delay tactics. I paid my contractor out of pocket .

Sent US bank A paid in full receipt and A week later they issue a partial payment made out to the contractor . Seriously want to look into filing a lawsuit for damages and undue stress against them .

Anonymous
#1565527

Same chapter, just different verse. Worse mortgage company ever!

LiveSaurian964
#1740443
@Anonymous

I have never filed a claim before this time and never will again. Water damage occurred last November of 2018, and I am still waiting for the process to be finished at it is now August 30, 2019.

I lost my original licensed business person who was handling the kitchen work who had an excellent reputation, but because he was not a licensed contractor, the bank would .not approve a release of funds. Now I am losing the contractor who was the only “licensed contractor” I could find who would handle a “small job” and I don’t trust him because the only way he will complete the job is if US bank pays him for the whole job. He is holding me hostage; the bank is holding him hostage. They will NOT release funds until job is completed, which protects the homeowner.

Now I have no appliances, except a fridge and no running water. What a nightmare!

Anonymous
#1534839

I’m a contractor 30 days waiting to get a check from them . I paid for labor and material . They don’t give a *** ....

Anonymous
#1473965

Same thing here I have even paid out of pocket and waiting to get my money back

Anonymous
#1452793

Going through this process now, awful.

Anonymous
#1206880

I experienced the exact same thing only I am now into August. Try asking US Bank if the money is held in a interest bearing account while you are fighting to get it and if so where is the interest.

Anonymous
#1476985
@Anonymous

I'm late to the game, but if your funds from insurance loss are held in restricted escrow, interest depends on the state. US Bank doesn't get to decide.

If it does, the (VERY SMALL) the interest is released upon completion of our claim. I think when I worked there, I saw maybe one check cut from restricted and it wasn't anything to write home about. You're not 'putting one over on the man' by asking about the interest.

It's decided by your state law. And again, it's not like the escrow on your mortgage, it's restricted.

Anonymous
#1154456

I am going through the exact same problems with US Bank. This is indicative of how they handle insurance claims.

My last experience with trying to obtain a claim took 8 years. They hold the insurance monies to draw interest. The struggle will wear on you. It should be unlawful.

Wished I could get another bank to refinance, but we're stuck with US Bank for now. We are determined to change that and is a life goal to depart from US Bank, "The Bank from ***".

rikmac34
#1053021

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jikraw29
#1040610

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christian2015
#991060

Great article. Thanks for the info, it’s easy to understand. BTW, if anyone needs to fill out a IRS W-9 form, I found a blank form here: http://pdf.ac/8w7VqG

Anonymous
#678774

I just went through a similar headache with US Bank getting a roof repaired that was covered by insurance. Thank god my contractor was patient because US Bank played games not sending checks in a timely manner.

The final check had a letter that said it is less than amount owed to contractor and I will need to pay the rest. No clue what this about or how much money was witheld so I called them. Then I am told it was for their inspection fee. I demanded to know when and where this inspection was communicated to me during the claim process.

They had proof and told me they were refunding the inspection fee. Weeks go by and I hadn't gotten the refund check so I call again. I told that corporate denied the request to refund the inspection fee that was never communicated to me. I ask why wouldn't you at least communicate that to me?

They had no explanation and I didn't drop my demand for proof that they communicated the inspection fee cost. I am then told that they can override the corporate decision an will send a refund check.

Who knows if I will actually receive it and US Bank will scam the people that don't challenge their practices. I hope US Bank gets a huge class action law suit filed on them for this and they have to pay millions.

Anonymous
#552378

THE REASON THEY DO THAT IS THAT THEY DEPOSIT ALL THE CLAIM CHECKS INTO AN ESCROW ACCOUNT, AND DELAY THE PAYMENT BACK AS LONG AS POSSIBLE TO COLLECTIBLE GET A LARGE INTEREST AMOUNT FROM THE DEPOSITS YOU MAKE THOUGH THEM.

ANOTHER THING THEY DO IS REQUEST A W9 FORM FORM THE CONTRACTORS IN ORDER TO DEDUCT A LARGE SUM OF MONEY FROM THEIR TAXED AS THEY ISSUE THE CHECK BACK TO YOU. THE POLICY HOLDER IS THE ONE ENTITLED TO WRITE OF THE AMOUNT PAID TO THE CONTRACTOR SINCE THEY ARE THE ONES PAYING THE INSURANCE AND GETTING THE DAMAGE REINSTATEMENT FROM THE POLICY THEY PAY FOR. NOT THE MORTGAGE COMPANY!!!!!!!!!!!

IN OTHER WORDS US BANK IS NOTHING BUT A LEGAL LOAN SHARK, I COULD GET MORE INTO THE REST OF THE DETAILS BUT I HAVE TO KEEP WORKING.

MY RECOMMENDATION IS, WHEN YOU ARE LOOKING FOR ANY TYPE OF LARGE COMPANY OF ANY KIND, DONT LET THEIR ADVERTISEMENT BE THE TURNING POINT FOR YOUR CHOICE. LOOK UP THEIR COMPLAINT RATING ON DIFFERENT INDEPENDENT WEBSITES.

Anonymous
#510028

Did your problem ever get resolved? Also, did U.S.Bank try to charge you "inspection fees" for conducting an inspection at each phase in the construction process? I would be very interestd to know if they did.

Steven M. Weiss

weisslaw@msn.com

(877) 348-1802

Anonymous
#1426139
@Steven Weiss

We have been trying to get our final check endorsed and sent back to us for weeks. US Bank told us after the inspection they would return our endorsed check overnight so we could pay our contractor.

Then the Springfield office deposited the check into US Bank and has been throwing out one hurdle after another to avoid releasing the funds.

They are clearly using the float on these checks as a profit center. CLASS ACTION TIME.