Consumer complaint received 2017-03-15
Company: JPMORGAN CHASE & CO.
State: GA
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
APPLIED FOR CHASE HELOC {$50.00} DEBT CONSOLIDATION XX/XX/XXXX CLOSED XX/XX/XXXX, LOAN FUNDED LATE XX/XX/XXXX DUE TO CHASE ERRORS WITH CLOSING DOCS, AND SOME DISBURSEMENTS STILL OUTSTANDING AS OF XX/XX/XXXX, DUE TO CHASE ERRORS. I BELIEVE CHASE VIOLATED ( LENDING LAWS / MY CONSUMER RIGHTS ) DURING PROCESS AS FOLLOWS : 1. I AM XXXX XXXX YR MALE, RECENTLY MARRIED, XXXX MEDICAL RETIREE RECEIVING ( XXXX, XXXX ) I BELIEVE MY XXXX INCOME WAS DISCRIMANETLY ( OVER SCRUTINIZED ), DURING INCOME VERIFACTION, EVEN AFTER I HAD PROVIDED MORE THAN WHAT CHASE REQUIRED, CHASE KEPT REQUESTING ADDL UNNECESSARY DOCS, MY APP WAS IN UNDERWRITING TOO LONG FOR SMALL LOAN ETC 2. BELIEVE CHASE TRIED TO VIOLATE MY RIGHTS, BY ATTEMPTING TO MAKE THE SIGNING OF A SPOUSE WAIVER, A REQUIREMENT FOR LOAN, I OBJECTED, " STATING I AN ONLY ONE ONE LOAN, I 'VE OWNED MY HOME 22YRS, SINGLE, IN STATE OF GA, NON-COMMUNITY PROPERTY STATE, MARRIED LESS THAN YR, WIFE AND I MAINTAIN SEPARATE ( ASSETS/ LIABILITIES ) AND HAVE SEPARATE HOUSEHOLDS, NO COMINGLED ACCOUNTS ETC. CHASE TRIED TO PRESSURE ME TO GET MY SPOUSE NAME, MY RESEARCH SUGGESTED ITS A VIOLATION OF SOME LAW, CHASE DID NOT INTRODUCE SPOUSE WAIVER DOC AT CLOSING, BUT THE LAWS REGARDING SPOUSE WAIVERS, SHOULD BE CHECKED SO NO CONSUMERS RIGHTS ARE VIOLATED BY CONSUMERS 3. CHASE DID NOT PROVIDE ME, ANY PRECLOSING DOC, UNTIL ( XX/XX/XXXX THE MORNING OF THE DAY BEFORE CLOSING ON XX/XX/XXXX. HASE TOLD ME I WOULD RECEIVE DOCS 3 DAYS BEFORE CLOSING, BUT DOCS ARRIVED DAY BEFORE. I ALMOST DECIDED TO POSTPONE CLOSING, TO HAVE MORE TIME TO REVIEW DOCS, BUT I WENT AHEAD WITH CLOSING ON XX/XX/XXXX. 
4. LOAN DID NOT FUND, PROMPTLY AFTER ( 3 DAY RECISSION MIDNIGHT XX/XX/XXXX ) DUE TO CHASE PROBLEMS, LOAN FUNDED ON XX/XX/XXXX XXXX EST ), BUT CHASE 'S SYSTEM IS PROGRAMMED TO AUTOMATICALLY, START CHARGING INTEREST STARTING ON ( CLOSING DAY XX/XX/XXXX INSTEAD OF FUNDING DAY XX/XX/XXXX ). I COMPLAINED AND CHASE REFUNDED INTEREST FROM ( XX/XX/XXXX TO XX/XX/XXXX ). CHASE AND OTHER LENDERS NEEDS TO INVESTIGATED AND MADE TO REFUND INTEREST ON ALL LOANS WHERE THEY CHARGED INTEREST FROM CLOSING DAY, INSTEAD OF AFTER ( 3DAY RECISSION OR FUNDING ). I THINK THIS PRACTICE VIOLATES LAW. 
5. DURING DISBURSEMENTS ( CHASE SENT DISBURSEMENTS BY CHECK ), IN A MANNER TO MAKE THE MOST ON TRANSIENT ( DAILY COMPOUNDED, DOES NOT FOLLOW UP ON DISBURSEMENTS ( USE MANAGEMENT BY EXCEPTION ), TO MAXIMIZE INTEREST EARNING, STILL HAVE SOME DISBURSEMENTS UNDELIVERED BY CHASE, ( BEING CHARGED DOUBLE INTEREST ), COMPLAINED CHASE REFUNDED SOME INTEREST. LAW NEEDS TO BE CHANGED SO LENDERS CAN NOT START CHARGING CONSUMERS INTEREST ON LOAN DISBURSEMETS UNTIL THEY CLEAR LENDERS ACCOUNT. BANKS MAKE XXXX DOLLARS A DAY IN TRANSIENT INTERST ON LOAN DISBURSEMENTS, ON THE BACKS OF CONSUMERS. THAT WHY MOST BANKS DISBURSEMENT SOFTWARE, DO N'T CHECK FOR ( TIMEFRAME FOR DISB TO CLEAR LENDING ACCT, OR MAKE AN EFFORT TO SEND DISBURSEMENTS THE QUICKEST WAY ), PAYMENTS THAT COULD BE EFTed were sent by mail to maximize transiet interest earning. 
6. TO COVERUP THE FACT, THAT A DISBURSEMENT IS STILL OUTSTANDING CHASE MGR, ( MADE INACCURATE/ DECEPTIVE ENTRIES ON MY HELOC LEDGER ), CREATING THE APPEARANCE THAT CHASE HAD MET ITS DISBURSEMENT RESPONSIBILITY, WHEN IN FACT IT HAS NOT. THE HELOC LEDGER ENTRIES ( ADDED ON XX/XX/XXXX ) WITHOUT MY KNOWLEDGE OR CONSENT, CREATE THE APPEARANCE THAT I MAILED OUT A ( XX/XX/XXXX ) BALANCE ADVANCE TO PAY A CREDITOR, WHICH IS NOT TRUE. CHASE CONFIRMED ON ( XX/XX/XXXX & XX/XX/XXXX ) THAT IT HAD MAILED A REPLACEMENT CHECK, FROM MY ( XX/XX/XXXX FUNDED DISBURSEMENT LOAN ). INSTEAD ON XX/XX/XXXX CHASE ( RESTRUCTED MY LOAN, DID BALANCE ADVANCE FROM MY RESTRUCTED INSTEAD OF FROM THE ( XX/XX/XXXX FUNDED LOAN. THIS IN MY OPINION, VIOLATES ( LENDING / ACCOUNTING PRACTICES ). I WANT CFPB TO INVESTIGATE THE ABOVE MATTERS AND THE LEDGER ENTRIES ON MY HELOC.

Company response to consumer: Closed with explanation