Consumer complaint received 2016-11-14
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
Chase did n't have institutional controls in place to control its loan officer to ensure that our file was being addressed in the appropriate manner, leaving us the buyers short of our credits and forcing us to sign the contract to not lose our locked-in rate. We are contacting the CFPB as a result of the highly irregular practices, notices and policies. 

To have submitted a contract with addenda that clearly indicated that our realtor was giving us a credit against the purchase and to be pushed to close, even though there was no CD delivered in a timely manner. We were suppose to know before what we owed, we are entitled and they are required to provide me with a complete breakdown at least 3 days before closing so we could have knowledge of the funds we needed to bring to the table and what our costs and expenses were suppose to be. The fact that the loan officer said to us verbally " send more and the difference will be reimbursed '' indicates that he knew that we would not be afforded the credit based on underwriting issues that were not clarified to us. Also, the fact that Chase did not move timely while were in escrow and not subject to default - to finalize our file so we would be approved was wrong. The fact that the title company had to continuously call/email our loan officer to get information and they took it upon themselves to provide what they thought was needed to avoid delay is not right. ( Escrow notified Chase over 30 days before we were set to close that we had too many credits. Chase never informed us of this, in fact they called us the day of closing, with a 3 hour notice, to tell us we had too many credits. Then forced us to sign the contract to not lose our locked-in rate and not giving us enough time to find ways to use all of our credits. ) They also, violated the Federal Fair Housing Act as they acted on a stereotype, delaying our mortgage application as they found out the buyers were expecting. They called us and told us " you did n't tell me you were XXXX '' As if that would be an issue. Upon hearing of the news, Chase only made the female buyer prove she was returning to work after XXXX the child. Women should n't have to choose between buying a home and exercising their right to have a family. They never requested the male to provide any proof even though both of us were on leave. In fact, we had to cut the paternity leave short by 6 weeks, in fear Chase would deny us the loan. Even though the male was never questioned to prove he would return to work or even assumed he would take a leave, as they were being sexist. They made assumptions. They acted very poorly in this manner. Nor did they listen to our pleas, when we stated the Female had XXXX ( plus paid family leave ) approved along with her company supplementing her full paycheck. We were forced to notify our job of our situation which is an uncomfortable place to be as not all employees like to tell their jobs of their personal matters, as it can place someone at a disadvantage for getting a raise. 

Lastly, Chase acted against internal rules set in place by Chase, to communicate with buyers via company email and company phones. As those calls are all recorded. Our loan officer only made phone calls to us via his cell phone leaving us with no paper trail to further prove our point and to hide his unscrupulous behavior.

Company response to consumer: Closed with explanation