Consumer complaint received 2015-12-03
Company: JPMORGAN CHASE & CO.
State: GA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
On XXXX/XXXX/15, we meet with Chases ' mortgage banker and broker and were told how we could refinance and what it would take to make it happen. We were assured due to the size of the loan XXXX and our assets they could assist us in getting a refinance processed for our needs. My father is in an assisted living and has run out of money, therefore I need to assist in supporting him and by refinancing our current loan, this would be a great way to assist with his care. 

On XXXX/XXXX/15, we gave our approval to move forward with the refinancing and provided our credit card for application fees to Chase for a refinance. We were provided with an estimate, interest rates and other information and assigned the same relationship and mortgage banker. On that same day, due to our urgency and upcoming travel requirements, we provided all the necessary documents that were requested via their email. We had continuous communications between XXXX parties requesting status and expected closing dates. Due to upcoming travel out of the country, all parties were focused on securing a closing date by XXXX/XXXX/15. On XXXX/XXXX/15 the mortgage banker had called and said they had really good news, everything was approved, as we are self employed and they would be using our assets as income. She stated, they could not meet the targeted closing date of XXXX/XXXX/15 but could guarantee with everything approved, we would close the week of XXXX/XXXX/15 which was when we would be returning. She also indicated that she would email us the actual closing date while we were out of the country. Prior to returning home, on XXXX/XXXX/15 we had yet to receive an email with the closing date. I emailed our contacts and requested the finalized date. I immediately heard from our banker that said he would contact the broker. Upon our return, XXXX/XXXX/15, I emailed again and finally received a call XXXX/XXXX/15 informing me that the broker was no longer with the company and had never followed company protocol therefore our loan was never entered into the system, the file was never processed, never approved as per our conversations and we certainly did not have a closing date for this week as promised. I was stunned as we have made financial decisions based on the conversation that we were approved and closing on this loan. Today, XXXX/XXXX/15, we have been reassigned to a different broker within Chase and she informed me the same, that there was no records of all the information we provided or any information about the elaborate details and being approved and having a closing date from the previous broker. Therefore, today, XXXX/XXXX/15, we start this whole process all over again. We forwarded the original documents that were submitted on XXXX/XXXX/15 to the new broker. Since Chase has advised that they show no record of our information, this also raises a huge security concern regarding all of our financial data and account information. 

In the meantime decisions we have made based on this information will have financial and negative impacts to our current position. Any assistance and or direction in this matter would be most appreciative. I believe this negligence is unacceptable and unprofessional when dealing with peoples most important asset and home. Thank you in advance for your attention to this matter.

Company response to consumer: Closed with non-monetary relief