Consumer complaint received 2022-08-05
Company: JPMORGAN CHASE & CO.
State: MN
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I have attempted to refinance with my current mortgage ( JP Morgan Chase ) twice this year, once in XXXX XXXX ( prior to my divorce ) and once in XXXX ( after my divorce ). There have been several issues in each case which I will summarize below, but the biggest current issue is Chase 's actions are preventing me proceeding with another lender with the terms I have been conditionally approved with. 

In XXXX, I had worked with Chase through the application, appraisal, and approval process and we were setting up a closing date when I was informed that my future ex would need be there to sign. Her presence would not be a problem but differed from my previous experience on the purchase of my house and her purchase of her townhome where we the only signature required of the non-borrower was the on the TLD well in advance of closing. I am not on her mortgage or title and vice versa. Therefore I first wanted to understand why this refinance was different. The only response I had was that it was required several attempts to get clarification. On my own time, I found an explanation in the MN underwriters handbook. But, I still wanted clarification on what specifically she would be signing and what future remedies would be needed post divorce. I receive no answer at all. Without that clarity, I elected to wait until the divorce was completed. 

In XXXX the divorce was complete and I reengaged Chase ( XX/XX/XXXX ). Prior to my first discussion with them, I talked with one other lender ( XXXX XXXX XXXX, XXXX ) who had informed me that for a divorce equity buy out, it could be a rate/term refinance. When I talked to Chase, I was told by the lending advisor that XXXX was wrong and I would need to do a cash out refinance. Reading more on the topic later, I found I meet the requirements for the divorce equity buyout and what Chase told me is false ( it is what is being offered from XXXX now ). As I restarted the process, Chase also ordered another appraisal. After the appraisal was completed on XX/XX/XXXX ( and before I saw the appraisal result on XX/XX/XXXX ), due to the issues above and others, on XX/XX/XXXX I decided to go talk to XXXX again. XXXX informed me, based on the information provided, that no appraisal would be needed and I would have slightly better terms. I therefore began the process with XXXX and held off on completing items open with Chase to satisfy their conditional approval. When I received conditional approval from the refinance from XXXX on XX/XX/XXXX, I told Chase to discontinue work on my refinance. My refinance with XXXX was going fine and was about to be submitted for final approval on XX/XX/XXXX when they found Chase had entered the XXXX appraisal into the XXXX XXXX and that was now preventing them getting the appraisal waiver. XXXX said it is a common lending practice in such cases to request a transfer of the other lenders appraisal. By XX/XX/XXXX, XXXX had drafted a letter which I signed requesting transfer of the appraisal and submitted to Chase and to the Chase home lending advisor I had been working with. Beginning XXXX to XXXX, I tried contacting both the Chase lending advisor 12 times via phone, one time via messaging on the Chase refinance page and his manager twice. The phone calls went to voicemail and I received no response from messaging and today the option to message disappeared. I was able to talk to another advisor at Chase by selecting 'urgent issue ' in the voice service . I was informed by him that Chase " has no policies or procedures to transfer appraisal to another lender '' and they were not aware this was not an uncommon request- but did double check it was not an FHA, which I know would have compelled them to transfer if it had. Taking all together, this all seems like punitive and unprofessional behavior on Chase 's part for discontinuing working with them for what I believe are legitimate customer service concerns, which have only been heightened in the last few days. Note, I have been a customer of Chase for 9 years on my current mortgage.

Company response to consumer: Closed with explanation