Consumer complaint received 2018-03-08
Company: JPMORGAN CHASE & CO.
State: NC
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
To whom it may concern My name is XXXX XXXX XXXX and I feel as a consumer I have a legitimate complaint in regards to the loan I had with Chase Mortgage which has now sold my loan to XXXX XXXX. I have already been to XXXX XXXX and filed acclaim with the NC Banking Commisioner was of course was told by them this was not XXXX XXXX fault and I should contact Chase which I have and was just told by them this too was not their fault how the consumer is always responsible for mortgage mistakes I will never understand! 

Anyway on XX/XX/XXXX I purchased my new home through XXXX XXXX XXXX that sells their loans and mine was sold to Chase which was great until XXXX they decided to sell my loan to XXXX at the time which is now XXXX XXXX. I know mortgages can be sold but when they are not sold correctly that creates an issue for the consumer and that is not right! Chase sold my loan knowing my taxes were not paid which I also have an issue with do to my tax bill for XXXX County in North Carolina come out in XXXX and they don't pay them until the end of XXXX so payment will be received by XX/XX/XXXX to avoid late charges! Taxes should be paid when tax bills come out to avoid the situation I have been put in! ( By the way if you aren't able to help me could you at least give me a contact as to whom I can talk to in order to see about having this changed in order to hopefully prevent this from happening to someone else ) anyway back to my issue, when my loan was sold to XXXX XXXX instead of Chase going ahead and paying my XXXX taxes or at least sending my funds to the new investor for them to be paid they sent me a check in the mail with a letter that just stated escrow overage. Nothing about my taxes not being paid and that is became my responsibility to pay them when it should not have been since by law my FHA loan had to be escrowed! The only way I found out they were not paid is when I received a delinquent notice from XXXX County NC that my taxes had not been paid I immediately contacted my new loan company XXXX XXXX and was told they would look into it and get back with me. Well needless to say I never heard back from them but did receive a notice from the XXXX County Tax Department they had been paid so I figured XXXX XXXX figured it out! When I received my escrow analysis this year from XXXX XXXX my payment was going up over XXXX dollars a month!! I immediately noticed that in XXXX of XXXX they took it upon themselves to go ahead and pay my taxes without even contacting me back to inform me about what they did!! when I called and questioned it and why they would even purchase a loan without verifying on a FHA loan that taxes and insurance had been paid for the year all they could tell me was I had a shortage In my escrow and I had to pay it back As stated above unfortunately when I filed the claim with the NC Banking Commisioner I was told this was Chase 's fault not XXXX XXXX! I immediately contacted Chase and my loan was sent to a XXXX XXXX ext XXXX in the executive department in order for it to be reviewed! After a month or so even though I have to say he stayed in touch with me just to keep telling me they were still researching it I received word that they too were not responsible which again throws it back on the consumer! Had my taxes been paid instead of sending overage escrow check back to me without an explanation or had my loan been left with Chase I would not be in the issue I am in better yet if the funds had been sent to XXXX XXXX they could have paid them once they got the loan!! What I thought was ridiculous is when I called XXXX back I was told the funds were sent to me instead of XXXX XXXX to keep them from being late if they were so worried about them being late why didn't they go ahead and pay them since they ended up being late anyway due to them sending the check to me without an explanation!! I have had loans before and normally taxes for XXXX County NC have always been sent out the very first of XXXX! I know they tell you they don't make interest of funds held in escrow then if this is the case why don't they pay them when the tax bills come out? 

Thank you in advance for your consideration in this matter and should you need anything else from me please contact me at XXXX. I will eagerly await your reply XXXX XXXX XXXX XXXX ( XXXX )

Company response to consumer: Closed with explanation