Consumer complaint received 2017-12-06
Company: JPMORGAN CHASE & CO.
State: NV
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
this is a follow up from a previous complaint. The case is no close until an final answer is done by a third party. 
I received a letter dated XXXX XXXX, XXXX as a response from Chase. This complaint shall be taken seriously since discrimination, segregation and predatory lending are in question. I started the application of loan modification beginning of XXXX and until now no answer of approve or denied has been established even all documentation submitted. I did n't submit any feedback in regards to company malpractice. This is what I have been dealing all year round. Obviously Chase does n't take anything seriously and I will address this concern with Superior court for judgement. I have a list of all the relationship manager names that were assigned to my account. I '' m very surprise that Chase could n't find evidence of the 10 different people that I have been dealing with all this year. I can provide Chase and the court with all the names. And yes every different relationship manager had a different answer, opinion and feedback in regards to my loan modification so obviously it has affected my application otherwise it would n't be taken that long as it 's taking. 
On your letter dated XXXX XXXX, XXXX Chase does n't stated the outcome of the application of the loan modification of deny or approved. It only mention options that they are suggesting for me to apply. According to a federal funded program. we my husband and myself qualify for the principal reduction program : Principal Reduction Program Summary Guidelines 1 PRP 09/2017 1. Program Overview The Principal Reduction Program ( PRP ) is one of CalHFA MACs federallyfunded programs developed with a goal to provide capital to homeowners who have suffered an eligible hardship in order to reduce the outstanding principal balances of qualifying properties with negative equity and/or unaffordable first mortgage payments. 
PRP will provide monies to reduce the principal balance of the first mortgage in connection with a loan recast, modification or a stand-alone curtailment, each with the purpose of establishing an appropriate level of affordability and/or debt for eligible homeowners with qualifying properties. 
2. Program Goals The PRP will reduce the principal balance of first mortgages in cooperation with participating servicers in connection with a loan recast, modification, or a standalone curtailment, to help qualifying homeowners stay in their homes. 
PRP will help homeowners stay in their homes by ensuring they have an affordable first mortgage payment and an appropriate level of mortgage debt after they receive PRP assistance in accordance with program guidelines. 
3. Target Population/ Areas PRP is designed to target low-to-moderate income homeowners and address the needs of a homeowners specific situation in lieu of targeting certain regions or counties. 
4. Program Allocation ( Excluding Administrative Expenses ) {>= $1,000,000} 5. Borrower Eligibility Criteria Homeowner qualifies as low-to-moderate income based on per-household income thresholds set forth in the county in which the homeowner resides.

Income thresholds are as posted on the Keep Your Home California website. 
Homeowner completes and signs a Hardship Affidavit / 3rd Party Authorization to document the reason for hardship.

Homeowners who have recently encountered a financial hardship due to their military service are eligible.

Homeowner has adequate income to sustain post-assistance mortgage payments.

ssss Principal Reduction Program Summary Guidelines 2 PRP 09/2017 Homeowners pre-assistance, total monthly first-lien mortgage payment PITI ( principal, interest, taxes and insurance, as applicable ) including any escrowed homeowners association dues or assessments, is greater than 38 % of the gross household income excluding temporary income ( e.g., unemployment or short-term disability benefits ) and/or a homeowners pre-assistance LTV ratio is greater than 100 %.

Homeowners post-assistance, total monthly first-lien mortgage payment PITI ( principal, interest, taxes and insurance, as applicable ) including any escrowed homeowners association dues or assessments, must meet CalHFA MACs definition of an Affordable Payment, which means that the homeowners monthly first-lien mortgage payment is no greater than 38 % of the gross household income excluding temporary income ( e.g., unemployment or shortterm disability benefits ). On a case-by-case basis, CalHFA MAC reserves the right to review and approve post-assistance affordable monthly firstlien mortgage parameters greater than 38 %, consistent with CalHFA MAC program guidelines.

Delinquent homeowners with a pre-assistance LTV of greater than 100 % but less than 115 % that have a pre-assistance Affordable Payment must be able to demonstrate that an eligible hardship caused their loan to become delinquent ( e.g., reduction of income or increase in unavoidable expenses as per program guidelines ). 
Homeowner agrees to provide all necessary documentation to satisfy program guidelines within the timeframes established by CalHFA MAC.

First Lien mortgage loan must be delinquent or meet the CalHFA MAC definition of imminent default as substantiated by homeowners hardship documentation. General program eligibility is determined by CalHFA MAC based on information received from the homeowner. Program-specific eligibility is determined by CalHFA MAC on a first-come/first-approved basis until program funds and funding reserves have been exhausted. Loan servicer will implement the HHF program based on participation agreement terms and conditions.

Principal Reduction Program Summary Guidelines 3 PRP 09/2017 6. Property/Loan Eligibility Criteria Current, unpaid principal balance ( UPB ) ( includes the interest-bearing unpaid principal balance and any existing non-interest bearing forbearance balance ) of the first-lien mortgage loan is not greater than {$720000.00}.

The property securing the first-lien mortgage loan must not be abandoned, vacant or condemned.

The applicant must own and occupy the single family, 1-4 unit home ( an attached or detached house or a condominium unit ) located in California and it must be their primary residence. Mobile homes are eligible if they are permanently affixed to the real property that is secured by the first lien.

A pre-assistance loan-to-value ( LTV ) ratio of 115 % or greater is considered a hardship indicative of imminent default.

If a qualifying, first-lien mortgage loan is delinquent, the servicer must utilize the PRP monies to bring the first-lien mortgage loan current before applying PRP monies to the homeowners principal balance.

The servicer will reduce the qualifying principal balance in conjunction with a loan recast or loan modification in the amount needed ( up to the maximum per household assistance ) to help the homeowner establish an appropriate level of affordability and mortgage debt per CalHFA MAC guidelines. Such loan recasts or modifications must meet the CalHFA MAC modification and program guidelines.

Servicer may apply PRP monies as a stand-alone curtailment to reduce the homeowners UPB in order to help the homeowner establish an appropriate level of mortgage debt as determined by CalHFA MAC only when all five of the following conditions exist : - Pre-assistance LTV ratio is 115 % or greater, - Such homeowner must not have assets ( excluding retirement assets ) equal to or greater than the amount of PRP assistance, - First mortgage loan is current with no more than one 30-day late payment in the previous 12 months, - Post-assistance mortgage payment meets CalHFA MACs definition of an Affordable Payment, and - Post-assistance LTV ratio is greater than 100 %.

Loans in foreclosure may be eligible.

Principal Reduction Program Summary Guidelines 4 PRP 09/2017 7. Program Exclusions Homeowner has a subordinate lien that is in foreclosure as evidenced by a recorded NOD or Notice of Trustees Sale ( NOS ).

Homeowner is in active bankruptcy. Homeowners who have previously filed bankruptcy are eligible for consideration only with proof of court order " Dismissal '' or " Discharge. '' Homeowner fails to satisfy lender underwriting guidelines.

Homeowners post-assistance LTV ratio is greater than 140 % or less than 100 %. Post-assistance LTV ratio may be less than 100 % only if it is necessary in order to provide the homeowner an Affordable Payment.

Homeowners pre-assistance total monthly first-lien mortgage payment PITI ( principal, interest, taxes and insurance, as applicable ) and any escrowed homeowners association dues or assessments, as applicable, calculated on the UPB, is less than 25 % of the homeowners gross monthly household income, excluding temporary income ( e.g., unemployment and shortterm disability benefits ), as determined by CalHFA MAC at the time of a homeowners application for assistance.

Homeowners with a post-assistance LTV ratio of les and you can find more information at the following link http : //keepyourhomecalifornia.org/app/uploads/2017/09/PRP-Termsheet-09-2017-1.pdf As the loan modification program is a program funded by federal agencies and the primary goal of the program is to assist homeowners who are facing a hardship situation with their mortgage. On our first application I stated that we do n't have income because we do n't income. So Chase say that I do n't qualify for assistance program because I do n't have income. So how this loan modification program suppose to help a borrower if they are facing hardship as no income or employment.

Then we submitted another application stating that I 'm making {$500.00} because I 'm doing all kind of jobs so I can proof income to Chase. I submitted documentation asked about it. And now Chase does n't want to approve my loan modification no because income because other reasons.

I had a recorded message that I had with a chase employee who was going to deny my loan modification application because they assume that my husband was n't in town and he needed to sign some documents and because of that they could n't move forward. Then I had to scream and fight about it and say that I will have him sign and thus no for their concern to worry about it. I will sign and my husband any document require as long as we move forward.

Then Chase came out with another excuse to no continue with my loan modification because of proof of occupancy. I submitted an energy bill as Chase employee told me to submit one. Then they did n't want accept this because of no reason. 
Then I submitted a DMV registration as my proof of occupancy and the Chase employee told me that they were no considering that because it has my husband name only and they wanted both of our names. In your letter you are saying that my DMV records is no a proof because it is a bill and no actual registration. So now I 'm getting the registration in a week and you better approve it once received. 
I submitted a property tax bill and yes it was handwritten address because my mail goes to my parents home since I 'm XXXX and XXXX XXXX XXXX person. 
Then I submitted another property tax bill no handwritten notes and Chase still denied my proof of occupancy even though the property tax bill clearly stated that I 'm homeowner exemption. This exemption is only applicable if you are a homeowner that lives at the property. Obviously Chase employees do n't know how to read a property tax bill. And by the way this is a bill same as DMV bill. 
We are very frustrated with Chase actions, discrimination, allegations, and no complying with the law and regulations. We are demanding an approval of the principal reduction. I wo n't stop until justice is made. I will contact president Trump, the superior court, the news and whomever I need in order to have closure.

Company response to consumer: Closed with explanation