Consumer complaint received 2022-03-17
Company: JPMORGAN CHASE & CO.
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
MY ORIGINAL MORTGAGE PAYMENT STARTED AS {$4300.00} IN XX/XX/XXXX I PAID ON TIME EVERY MONTH UNTIL I RECEIVED ESCROW BILL FOR {$3300.00} XX/XX/XXXX. 

I PAID IN FULL TO AVOID INCREASE IN MONTHLY MORTGAGE PAYMENT, SAID TO BE {$4700.00} OTHERWISE IT PAID, MONTHLY PAYMENT WOULD JUST BE {$4500.00}. 
CHASE MISTAKENLY CREDITED MY FULL ESCROW PAYMENT OF {$3300.00} PAYMENT TO PRINCIPAL INSTEAD OF ESCROW CHASE THEN STARTED 18 MONTHS OF THE FOLLOWING : MISSAPLIED /MISDIRECTED USE OF MY REGULAR ON TIME MONTHLY PAYMENTS CHASE EITHER APPLIED MY PAYMENTS AS UNDER PAYMENTS FOR THE MONTH UNNECCESARLY ADVANCED ESCROW APPLIED LATE FEES UNNECESSARILY DID NOT CREDIT INTEREST DID NOT CREDIT ESCROW DID NOT CREDIT PRINCIPAL OR OVER APPLIED PRINICPAL IN GENERAL CHASE CONTINUED TO MISAPPLY ALL MONTHLY PAYMENTS INTO MY ACCOUNT FROM XX/XX/XXXX THRU PRESENT THIS ACTION OF MISAPPLYING OF MY MONTHLY PAYMENTS CAUSED ME TO RECEIVE IN XX/XX/XXXX A PAST DUE NOTICE OF OVER 6K FROM CHASE, SINCE THEY HAD BEEN APPLYING ALL MY REGULAR MONTHLY PAYMENTS RANDOMLY INCONSISTENTLY. IN SOME MONTHS THEY WOULD CREDIT PRININCAL, SOME MONTHS JUST INTEREST, SOME MONTHS BOTHS, SOME BOTHS DOUBLE PRINCIPAL ETC... 

THEY ALSO APPLIED OVER 2K IN LATE FEES OVER THESE MONTHS DUE TO THEIR ONGOING MISUES OF MY MONEY. 

IT IS ALSO IMPORTANT TO NOTE THAT AFTER I MADE THE FULL PAYMENT OF ECROW IN XX/XX/XXXX THAT WAS WRONGLY APPLIED AS A PRINCIPAL PAYMENT I HAD FORGOTTEN THAT I MADE THAT PAYMENT AND CONTINUED TO PAY THE HIGHER MONTHLY PAYMENT OF XXXX PER MONTH ( AN EXCESS OF {$200.00} PER MONTH ) INSTEAD OF {$4500.00} MY COMPLAINT IS INITIALLY A CREDIT ISSUE, SINCE NOT ONLY DID I NOT OWE CHASE AS PAST DUE AMOUNT BUT THEY HAVE THOUSANDS IN EXCESS DUE TO THEIR 18 MONTHS OF MISAAPLIED FUNDS AND WRONGLY APPLIED LATES FEES CHASE HAS ADMITTED THEIR WRONG DOING AND HAS NOT PROPERLY CORRECTED THE THE ACCOUNTING. THEY ONLY ISOLATED THE ESCROW ACCOUNT AND HAVE WORSENED THE ISSUE BY CAUSEING MY ESCROW TO NOW SHOW A POSITIVE XXXX BALANCE THEY HAVE YET TO CORRECT MY PRINICIPAL BALANCE TO PROPER AMOUNT THEY HAVE YET TO PROPERLY PROVIDE ME WITH XXXX AND XXXX RE CALCULATED TAX STATEMENTS THEY HAVE YET TO PROVIDE WITH WITH RECALCULATED XXXX ESCROW ANALYSIS THEY HAVE TO CREDIT ME ME WITH ALL THE LATE FEES WHAT I NEED VS WHAT THEY ARE WILLING TO SEND I NEED MY ACCOUNT TO BE AUDITED FROM XX/XX/XXXX THRU PRESENT IN THE FOLLOWING MANNER ONLY IN ORDER TO ESTABLISH PROPER CREDITING OF PRINCIPAL .INTEREST AND ESCROW TO EACH PAYMENT ACCURATE MONTHLY PAYMENT BASED ON ACCURATE ESROW ANAYLSIS OF TRUE XXXX BALANCE AFTER PROPER DEPOSIT OF CORRECT MONTHLY PAYMENTS OF {$4500.00} FROM XX/XX/XXXX THRY XX/XX/XXXX RECALCULATION IN XX/XX/XXXX OF ESCROW BASED ON {$4500.00} AND PROPER CREDITING EACH MONTH TO PRINCIPAL, INTEREST AND ESCROW NEW MONTHLY PAYMENT SHOULD BE DERIVED AT THAT POINT AND BE USED AND ENTERED AS PAYMENT FROM XX/XX/XXXX THRU XX/XX/XXXX APPLYING REQUIRED PRINCIPAL INTEREST AND ESCROW THE END RESULT I AM REQUESTING FOR MY COMPLAINT TO BE RESOLVED PRINCIPAL BALANCE SHOULD BE RESTORED TO AN AMOUNT MUCH HIGHER THAN THE XXXX DIFFERENT AMOUNTS RECENTLY SENT VARYING FROM XXXX TO XXXX MUST BE IN ACCORDANCE WITH PAYMENTS OF {$4500.00} FROM XX/XX/XXXX THRU XX/XX/XXXX AND WHAT EVER ESCROW ANAYLSIS DEEMS ACCURATE FROM XX/XX/XXXX THRU PRESENT ( XXXX THIS TO BE ABOUT {$4600.00} OR LESS ) INTEREST SHOULD BE APPLIED ACCORDING TO THE SAME PROCESS AS ABOVE AND THEN RECALCULATED XXXX AND XXXX TAX STATEMENTS SHOULD BE PROVIDED BEFORE XX/XX/XXXX IN ORDER SUBMIT MY XXXX TAXES AND DO AN AMENDMENT TO MY XXXX TAXES ALL OF THE ABOVE SHOULD RESULT IN A POSITIVE ESCROW ACCOUNT BALANCE AND THE RESIDUAL LATE FEES MUST BE CREDITED BACK TO MYSELF I HAVE ROUGH NUMBERS, I AM HAPPY TO WALK THROUGH LINE BY LINE OF HOW THIS NEEDS TO PROCESS, BUT CHASE EXECUTIVE OFFICE KEEPS ADVISING ME THEY HAVE DONE ALL THEY CAN. WHAT THEY HAVE DONE IS LEAVE ME WITH INACCURATE TAX STATEMENTS FOR TAX YEARS XXXX AND XXXX, AN INACCURATE PRINCIPAL BALANCE ( OVERAPPLIED MONIES TO PAY DOWN PRINCIPAL ) AND A HIGHLY EXCESSIVE POSITIVE ESCROW BALANCE OF OVER 6K. 
THE EMPLOYEES IN THE EXECUTIVE OFFICE SADLY ARE NOT ACCOUNTANTS AND THIS LEVEL OF DETAILIS NOT ATTAINABLE AT THEIR JOB LEVEL. I WILL ONLY ACCEPT A LINE BY LINE ITEMIZATION OF ENTRIES BY MONTHLY MORTGAGE PAYMENT WITH ACCURATE CREDITING OF PRINCIPAL, INTEREST AND ESCROW GEENRALLY PERFORMED BY A EMPLOYEE IN FINANCE OR ACCOUNTING I HAVE EXHAUSTED XXXX XXXX WITHIN CHASE, IT HAS TAKEN 7 WEEKS AND CHASE EXECUTIVE OFFICE HAS BEEN VERY LOW LEVEL AND FAR FROM EXECUTIVE. THEY KEEP TELLING ME THIS MATTER HAS BEEN RESOLVED WHILE IT HAS BEEN WRONGLY INCOMPLETELY SOLVED AND STILL ONGOING AND WILL CONTINUE. I AM DISAPPOINTED THAT WHEN YOU CALL ONE OF THE LARGEST BANKS IN THE XXXX YOU CAN ONLY SPEAK TO A LEVEL OF EMPLOYEE IN THE XXXX AND NO FURTHER IF YOUR PROBLEM INVOLVES INTRICATE DETAILS. THIS IS UNACCEPTABLE WHEN A CLIENTS, CREDIT SCORE, STATE AND FEDERAL TAX FILING AND CASH FLOW IS ON THE LINE. PLEASE ASSIST IN CORRECTING THIS MATTER AND GETTING CHASE TO TAKE THE NECSAARY DETAILED ACTION. 


THANK YOU

Company response to consumer: Closed with explanation