Consumer complaint received 2018-08-20
Company: JPMORGAN CHASE & CO.
State: IN
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage

Complaint:
My complaint surrounds multiple infractions that have essentially negated my abilities to obtain a loan modification for several years with Chase Bank ( CB ). The purpose of the modification request is so that I will be allowed to retain my primary residence. This complaint outlines actions performed by CB, in the form of negligent misrepresentation, misleading conduct, violations to the FDCPA, and non-transparency during the loan modification review process. 

All of these actions embodied violations and provisions set forth under HAMP while it was still available and The National Mortgage Settlement ( NMS ) of XX/XX/XXXX and rules set forth by the CFPB. The investor of my loan is CB. 
The U.S. Securities and Exchange Commission ( SEC ), has strong interests with issues that surround activities of financial professionals and mutual fund trading to prevent fraud and intentional deception. In an effort to bailout the 5 national banks the Obama administration enacted a mortgage bail out for the Top 5 banks with billions in mortgage relief funds as well as the administration rolled out the Making Homes Affordable ( MHA ) programs. As a result of the top 5 banks mishandling the bailout money for execution of the MHA, the banks were sanctioned with fines and new underwriting conditions were put in place, which also gave birth to the National Mortgage Settlement ( NMS ) and the Consumer Financial Protection Bureau ( CFPB ). Also Special Inspector General for the Troubled Asset Relief Program ( TARP ) was charged with oversight of banks that mishandled these funds. There are obligations by both CB, to have offered some type of home loan retention options for a number of reasons. It is a fact that CB, is the loan servicer of my loan and has been for most of the life of the loan. For countless years now, CB, has failed to provide or ensure accountability, transparency, or maintain integrity during the review process of my mortgage loan. 

My financial hardships began back in XX/XX/XXXX, when my XXXX was negatively impacted by the collapse of the housing market. This business came to a screeching halt and I was forced into filing chapter XXXX bankruptcy. Since then my wife and I have managed to regain fulltime employment however, Ive been rejected for any attempt at retaining ownership of my home. Ive applied for more than one loan modifications throughout the years and I have been declined multiple times for loan modification no real tangible explanations as to why. These requests are intensely tedious and consist of an extremely redundant process of faxing document after document in to CBs loss mitigation department, to no avail. Still, we received more and more request for documentation ; even identical documentation request for the underwriters review. Recently as of XX/XX/XXXX, we were told that our investor hasnt approved a modification because we have sufficient cash reserves or assets that give our family the ability to pay our mortgage current. This statement is false and misleading and lacks any supporting documentation which would support such a claim. At the time of this particular review our accounts did not reflect large amounts of reserve funds which could bring our account current. 
Furthermore our income was sufficient, which could more than serve as adequate debt to income, in order to be able to resume making payments on our loan ; and has been for many years now. CB, has grossly miscalculated my income as well as our abilities to repayment of our home loan. Each area of misconduct contains several layers of wrongdoing and supporting documentation. Every time our loan is reviewed we are given every excuse from CB as to why the loan will not be modified. 


Its very odd considering in XX/XX/XXXX, the U.S. Department of the Treasury created the Hardest Hit Fund to provide targeted aid to homeowners in the states most affected by the housing market crash. As part of this program, {$7.00} XXXX in aid was allocated to the 18 statesincluding Indianathat experienced the most extreme home price declines and high unemployment rates as a result of the economic crisis. In XX/XX/XXXX, the states received another {$2.00} XXXX so they could continue their foreclosure prevention efforts. For these reasons, I demand a detailed explanation as to how and why our family has been offered no opportunity to save our home in the past year. It is most certainly not due to lack of trying as our records will indicate. Indiana foreclosure settlement conferences statutes, IC 32-30-10.5, Chapter 10.5. Foreclosure Prevention Agreements for Residential Mortgages. CB,  egregious negligence, misguided servicing, misleading conduct, unethical underwriting practices, and failure to comply with the terms of MHA, TARP, or NMS, requires immediate attention or filing a civil lawsuit on my part. Even the statements made by CBs agents on multiple occasions throughout the past year further support our claims. I have also been harmed financially by CB, over multiple years due to them refusing to modify my loan. 
CB, continues to add frivolous foreclosure junk fees which adjust to my account every month in the form of late fees, compounded interest, property evaluation fees, inspection fees, legal fees, escrow fees, and the list goes on. All of this time we have been bearing the financial burden of negative credit reporting violations to the fair credit reporting act ( FCRA ). It appears that all these communications have been ill advised. All of the above actions have directly and negatively affected our ability to cure our delinquency and restore our account into good standing.

Company response to consumer: Closed with explanation