Consumer complaint received 2023-07-21
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I began my loan application on XX/XX/23 with Chase mortgage. I submitted all of my documents and I was conditionally approved on XX/XX/23. I remained in constant communication with the lender on a weekly basis to ensure there were no concerns at any point in the process. Our closing date with the title company was scheduled for XX/XX/23. During the process my inspection report was completed on XX/XX/23 indicating that the seller did not disclose possible fire damage in the attic. Based on this information I renegotiated the price of the house by a decrease of {$12000.00}. I submitted the new loan price and documents to Chase on XX/XX/23. On XX/XX/23, Chase lender requested information related to the decrease in price in which I provided them with the response. On XX/XX/23 I sent a follow up email related to any issues or concerns with the loan and requested verification that we were still on schedule for closing. The lender responded that I had completed everything on my end and they just needed one more form regarding the house being in a historic location. I submitted that form on XX/XX/23. My family and I flew to XXXX XXXX for the walk through on XX/XX/XXXX and the closing on XX/XX/XXXX. I received a call during my walk through on XX/XX/XXXX stating the appraisal/underwriting department was not comfortable with the information provided to them regarding the attic. I was told that they now needed a structural report stating the roof was safe. I hired an emergency structural engineer who provided me with a report on XX/XX/XXXX which I submitted to the lender at XXXX stating the roof was structurally sound and the damage was surface only. I repeatedly told the lender that they literally had 3 weeks from the time of their 1st inquiry to have me submit information but they waited until 4 days before our closing to act in this way. Needless to say, 4 hours prior to my scheduled closing, I was told our loan was denied due to XXXX concerns about the home. I have numerous emails related to all of these conversations with the date stamped. All utilities, home owners insurance, etc was already completed with the understanding that our loan was going through up until XX/XX/XXXX. The financial and emotional struggles this company put me and my family through were unacceptable. If they would have asked questions or denied my loan 3 weeks prior when this issue first brought to their attention, I could have made different decisions. Instead, I and the sellers, have been directly impacted ( as they had already moved out of the home ) and I was now in XXXX XXXX with my family without a home to close on. I had to pay for travel for me and my family, a n emergency structural report and utilities in my name for several days based on the lenders literal last minute decision. 

I want to be reimbursed for my travel, inspection and structural reports, utility payments, and emotional damage this entire process has caused me and my family. I am not sure what that would equate to, but I do not want this to happen to anyone else by this lending company.

Company response to consumer: Closed with explanation