US Bank
US Bank is the seventh largest mortgage servicer in the country based on volume, and manages a servicing portfolio of 1.1 million loans.
US Bank is a subsidiary of US Bancorp, the sixth largest commercial bank in the country with $264 billion in assets. The company provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.
What’s Being Done:
US Bank Home Mortgage is participating in the Making Home Affordable program and fully supports efforts to help families to lower monthly mortgage payments and/or to avoid foreclosure and remain in their homes.
US Bank offers the following assistance to qualified borrowers:
Refinance loans for homeowners with Fannie Mae or Freddie Mac loans, who have not been 30 or more days late on their mortgage payments in the past 12 months, and who believe that their loan amounts are about the same or less than the current value of their homes.
Modifications, which are for those who are already delinquent in their payments or are having difficulty paying their mortgages because of issues like a significant increase in their monthly payments, reduction in income or hardship that has increased their expenses. Properties must be primary residences with mortgages less than or equal to $729,750, for mortgages that were obtained prior to January 1, 2009.
US Bank may also have other options available, depending on the borrower’s situation.
Next Steps:
US Bank recommends contacting the bank if you are currently delinquent, or think you might fall behind on your payments on a loan that it is servicing.
Contact Info: Call Toll free 1 (866) 932-0462
If you are unable to reach your servicer or local state program, or if you would like additional assistance in this process, contact Mortgage Outreach at 866-408-0420. Mortgage Outreach works directly with many servicers to help find solutions for borrowers that are struggling to keep up with their payments.
