Consumer complaint received 2022-06-12
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
In XX/XX/XXXX we refinanced the mortgage on our primary home in XXXX. Both the previous and new lenders were incidentally Chase bank. We paid for property taxes through an impound escrow account alongside the monthly mortgage. At the time of close, we were told to pay for the new impound account from closing and that we will be refunded the remaining escrow balance from the previous loan account ( ~ {$22000.00} ) by XX/XX/XXXX through check. 

When we didn't receive the escrow refund by XX/XX/XXXX, we followed up a couple of times, and suspecting the check was lost in mail, asked Chase to stop any check payments and instead do a direct deposit into our account. We were assured on XX/XX/XXXX that our request will be honored. 

Having not received any direct deposit, when we followed up in XXXX week of XX/XX/XXXX, we were told someone cashed a cheque for {$22000.00} on XX/XX/XXXX. Upon investigating we found out chase issued a check in the name of a complete stranger, living in a different city, who encashed the cheque for cash. 

It was obvious it was completely chase 's fault. However, when we reached out to Chase, we were advised by the claims department to file for a dispute and were assured we will get back the funds in XXXX days. On XX/XX/XXXX, we filed a declaration of unauthorized payment and they said they filed the complaint we should receive the funds in 90 days. We waited 90 days and without any result. When we followed up in XX/XX/XXXX, they let us know there was some information missing in the affidavit and asked us to refile. We did so. At this point we were informed we will get the money in 90 days from XX/XX/XXXX. 

We were being repeatedly harassed by one call agent vs another, and asked to follow up sometimes with claims and other times with Chase 's mortgage escalations team and no one seemed to be able to tell us where our money is gone. They kept on changing the claim date. 

They kept telling us that they are at the mercy of XXXX XXXX XXXX  - the bank from which the check was cashed to give them some information and every time we called the claim date changed and were told to wait 90 days from the claim date. 

Frustrated we reached out to XXXX XXXX XXXX XXXX XXXX and explained our problem. They tried to help by calling the chase executive office. We were reached out to from the chase executive office by a person named XXXX XXXX who finally said they filed the claim with XXXX XXXX XXXX  on XX/XX/XXXX again and that we should wait another 90 days again. She let us know there was a security breach in their system which caused this issue. It has been more than 90 days. Even after repeated follow ups they are telling us the same thing that XXXX XXXX XXXX is not responding and there is nothing they can do until they do. There is no definitive date they are promising to refund us the money. 

We have all the documentation and claim numbers. Attaching some documents below. 

There is zero fault of ours as we never received the check in our mail. The amount is non trivial and we are getting a lot of XXXX about getting it back. We sincerely hope you can help.

Company response to consumer: Closed with explanation