MINNEAPOLIS, Jan 07, 2011 (BUSINESS WIRE) --
U.S. Bancorp (NYSE: USB) has issued the following statement in response
to a ruling by the Massachusetts Supreme Court on Friday, Jan. 7, 2011.
Our role in this case is solely as trustee for a securitization trust
that owned the mortgage at issue. U.S. Bank is not the originator, owner
or servicer of the loan in question, nor is it the sponsor or depositor
for the securitization trust. The foreclosure in question was conducted
by the servicer on behalf of, and in the name of, the securitization
trust. That is the only reason our name appears in this case. As
trustee, U.S. Bank has no responsibility for the terms of the underlying
mortgage, foreclosure procedure, the conduct of the servicer, the
process by which the mortgage is transferred to the trust, or the
sufficiency of the mortgage documentation.
About U.S. Bancorp
U.S. Bancorp, with $291 billion in assets
as of Sept. 30, 2010, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The company operates
3,013 banking offices in 24 states and 5,323 ATMs and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
SOURCE: U.S. Bancorp
Steve Dale, 612-303-0784
Judith T. Murphy, 612-303-0783