Consumer complaint received 2017-01-31
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
On XX/XX/XXXX I applied for a HAMP Loan Modification via a RMA form with JP Morgan Chase. This RMA was sent from my home via Fax. This was a COMPLETE application that included proof of occupancy, proof of income and assets as of XX/XX/XXXX. 

The HAMP guidelines applicable in XX/XX/XXXX downloaded from the Chase website is attached. 

Under this program, JP Morgan Chase was obligated under to do the following : 1. Do a property valuation -- which through their own admission they have n't done. 

2. Do an NPV test -- which through their own admission they did not do and have no record of it. In addition, my RMA application indicated that I had borrowed $ XXXX to make those asset investments which they have failed to take into account via their NPV tool. 


3. They had the obligation to retain all RMA documentation based on Home Affordable Modification Program Guidelines XX/XX/XXXX -- Clearly they did not retain documents of XXXX but they seem to have all other documents prior to XXXX. 

I allege JP Morgan Chase has committed fraud and denied me a loan modification by violating the terms of the MHA program as well as their own guidelines. 

If the $ XXXX cash reserve threshold was appropriate, then I should have got my Denial letter by XX/XX/XXXX. 

Instead they maliciously delayed the XXXX letter until XX/XX/XXXX ( see attached ) and not XX/XX/XXXX as they claimed in their forged Denial letter of XX/XX/XXXX ( see attached ). 

Because my RMA application had assets greater than 25K and my application included Retirement assets, they decided to delay my denial. Moreover, the $ XXXX hardship threshold of cash reserves used as denial criteria was implemented only in XXXX via XXXX Announcement XXXX XX/XX/XXXX ( see attached ). 

I was displaced from my home that I had spent $ XXXX to renovate, only to be maliciously denied loan assistance at a time when I needed it most and when I could have met the front-end and back-end DTI. 


Around XXXX of XXXX JP Morgan Chase acquired Washington Mutual. Via this acquisition, they acquired information of some of my additional assets and income. In their reply of XX/XX/XXXX they are misrepresenting and misleading that they had to wait for verification of XXXX asset info and home occupancy or property tax bill. All of these were faxed XX/XX/XXXX. 

The intent behind the delay in processing my RMA application of XX/XX/XXXX was to wait for the appropriate time to deny a loan modification in lieu of a loan refinance with additional costs. 

They then used this new information and abused and exploited my RMA application and especially the assets submitted and used this information to wait silently until they could offer me a loan refinance via their CORRECTED Denial letter of XX/XX/XXXX ( see attached ). In this Denial letter somehow I overcame the alleged hardship threshold of $ XXXX ( being the primary denial reason earlier ). See attached. 


In XXXX, I was targeted with deceptive HARP-refinance promotions ( see attached ) that were mailed to me via USPS Priority Mail. Once again these were designed to refinance my loan when a lower interest rate would not have any benefit for me. This was designed to enrich themselves unjustly by disguising it as a HARP offer even though my LTV in XXXX was well below 80 %. I contacted the bank at least 4 times and 1 personal visit to the bank and was denied any assistance and neither did they make me aware of other assistance options. 

This pattern of proactively seeking out a refinance was a means to unjustly enrich JP Morgan Chase at my peril and loss of means to be financially self-sufficient. 

JP Morgan Chase is denying wrongdoing and abuse without any evidence and records. 

As a result of this unjust and fraudulent denial of a loan modification of XXXX, I have overpaid in interest and I also allege discrimination.

Company response to consumer: Closed with explanation