Consumer complaint received 2017-12-28
Company: JPMORGAN CHASE & CO.
State: LA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
In XX/XX/XXXX, JPMorgan Chase grossly mishandled our mortgage escrow account. Since JPMorgan Chase started servicing our mortgage loan in XX/XX/XXXX, Chase has never disclosed that our homeowner 's insurance provider XXXX XXXX was a bank client and that there could be a conflict of interest with them servicing our loan. In XX/XX/XXXX, we decided to move our insurance policies away from XXXX XXXX  to another provider because we have had significant premium increases on our homeowner 's insurance since XX/XX/XXXX. When XXXX XXXX started sending premium refunds all of the refund checks were from JPMorgan Chase. On XX/XX/XXXX, Chase disbursed {$1000.00} from our mortgage escrow account as an overage and then raised our mortgage payment to {$1200.00} without any prior notice. On XX/XX/XXXX, we paid our XX/XX/XXXX mortgage payment of {$1200.00}. The entire amount was applied as a principal reduction payment. When we received the escrow disbursement check we voided it and sent it back by certified mail to Chase. Chase deposited the {$1000.00} back into our mortgage escrow account on XX/XX/XXXX by special escrow deposit. On XX/XX/XXXX, Chase disbursed {$1000.00} from our escrow account again without prior notice. Chase made a special escrow deposit on XX/XX/XXXX without our knowledge. We received the disbursement check on XX/XX/XXXX. We voided the check and kept it. In XX/XX/XXXX, Chase disbursed again for a third time from our mortgage escrow account {$1000.00}. We deposited that check into our bank account.

On XX/XX/XXXX we purchased a new homeowners insurance policy through XXXX and paid cash for the policy. On XX/XX/XXXX, we notified XXXX XXXX and JPMorgan Chase by certified mail that we would not be renewing our homeowner 's insurance policy that expired on XX/XX/XXXX. On XX/XX/XXXX, we notified XXXX XXXX and JPMorgan Chase by certified maile that we were cancelling our XXXX XXXX  homeowner 's policy effective immediately. In XX/XX/XXXX, we received a premium renewal notice from XXXX XXXX in the amount of {$3400.00} which was a significant increase from {$2300.00} for the prior year. On XX/XX/XXXX, we sent a second certified letter to XXXX XXXX to cancel our homeowner 's policy. When we never received a cancellation notice, we started to send daily emails and certified letters to XXXX XXXX to cancel our homeowner 's insurance policy because we knew that they were bank clients of JPMorgan Chase. On XX/XX/XXXX, XXXX XXXX still had not cancelled our homeowner 's policy and was refusing to refund the premium. XXXX XXXX started refusing the certified letters. We continued to contact our XXXX XXXX agent daily by email to cancel the policy. He refused. On XX/XX/XXXX, we sent a XXXX priority delivery to the XXXX XXXX Corporate office to cancel our homeowner 's policy. On XX/XX/XXXX, XXXX XXXX still had on cancelled our homeowner 's policy so we send a XXXX 2 day delivery on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. We continued to contact our agent and XXXX XXXX corporation daily until we received our premium refund check on XX/XX/XXXX. XXXX XXXX backdated the refund check to make it look like the refunded our money back on XX/XX/XXXX but the XXXX XXXX envelope was postmarked for XX/XX/XXXX which was the same day that the XXXX cancellation letters were delivered to the XXXX XXXX Corporate offices.

On XX/XX/XXXX, XXXX XXXX with the Chase executive offices acknowledged that XXXX XXXX was a Chase bank client but that it was not a conflict of interest to not notify us of their business relationship. If we had known that our mortgage servicer and our homeowner 's insurance provider were in business together, we would have left XXXX XXXX years ago. Cancelling our homeowner 's insurance policy should have been quick and easy. XXXX XXXX and JPMorgan Chase did not want there to be a Chase refund check associated with our mortgage escrow.

Company response to consumer: Closed with explanation