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U.S. Bank Home Mortgage Named to Freddie Mac Hall of Fame

OWENSBORO, Ky.--(BUSINESS WIRE)--April 2, 2007--Freddie Mac, one of the nation's largest investors in residential mortgages, recently named U.S. Bank Home Mortgage to its Tier One Hall of Fame, which is limited to servicers who have sustained this high level of performance for at least four years.

"I want to personally thank U.S. Bank for consistently achieving remarkable results through hard work, persistence and a commitment to excellence," said Janet Eakes, senior vice president of single family sourcing operations for Freddie Mac. "Our Tier One rankings go only to those few mortgage servicers whose superior performance, efficiency, and customer service set the benchmark for the rest of our industry."

U.S. Bank Home Mortgage has been recognized by Freddie Mac for the past four years as a Tier One servicer for its work in loss mitigation, which strives to keep people in their homes while minimizing costs associated with foreclosure.

"U.S. Bank Home Mortgage has earned a solid reputation," said Dan Arrigoni, president of U.S. Bank Home Mortgage. "We are proud of our servicing employees in Owensboro and credit them for their hard work, dedication to our customers and achievements in efficiency."

U.S. Bank reached a servicing milestone when it surpassed $100 billion in servicing volume in January 2007. U.S. Bank is sixteenth among mortgage companies in the United States in terms of its servicing portfolio, and in the top 20 in mortgage originations. The $100 billion milestone compares to $52 billion just five years ago in 2002, and approximately $17 billion serviced in 1999.

One of the ways in which U.S. Bank supports customers who appear to be on the brink of trouble in making their mortgage payments is to proactively reach out to them with a video that is mailed to their home, which walks them through the ways U.S. Bank can work with them to get through a difficult time in their life and keep them from losing their home. The video has been an effective tool in reaching customers who are embarrassed or otherwise reluctant to call the bank for help.

There are 675 employees who work in the servicing division of U.S. Bank Home Mortgage. The servicing group is based in Owensboro, Ky., with centers in Cleveland and Bowling Green, Ky., and satellite centers in Little Rock, Ark., Milwaukee and Minneapolis.

U.S. Bank Home Mortgage is part of U.S. Bancorp (NYSE:USB). With assets of $217 billion, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,467 banking offices and 4,943 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.

    CONTACT: U.S. Bank Media Relations
             Teri Charest, 612-303-0732

    SOURCE: U.S. Bank
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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