Consumer complaint received 2016-10-09
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Application, originator, mortgage broker

Complaint:
I sent an email to XXXXXXXXXXXX for home mortgage refinance on XXXX and they assigned XXXX XXXX XXXX to me. XXXX and I had the first phone conversation on XXXX on phone during which a credit inquiry was executed in order to estimate the rate. It turned out to be more than 3.0 % which was very close to my previous rate ( 3.25 % ). Therefore I did n't want to take that rate and said I needed to discuss with my family. XXXX promised that I did n't have to make a decision immediately it and can officially proceeded/denied until Monday ( XXXX ). As XXXX spoke very fast during the phone, I was afraid I may miss some points, so I asked again that if the case did n't get started without my consent on Monday. XXXX sent an email afterwards for documentations but I did n't upload anything to the system. Later I contacted XXXX XXXX XXXX and visited his office on Saturday ( XXXX ). XXXX asked for the same basic information and had another inquiry for the credit. The rate was still more than 3.0 %, so I did n't move forward. 

On Monday ( XXXX ), I sent an email to XXXX that I decided not to move forward. XXXX then asked in the email that if I would move forward if he could lower the rate XXXX which is 3.0 %? Then I asked that what was the processing fee if the rate was 3.0 %. He said it would be {$1000.00} or so. As I had no exact number of fee at that point, so I DID N'T said lock the rate in the email. Later I contacted XXXX XXXX XXXX who provided a rate of 2.875 % and processing fee of {$1300.00}, so I sent to XXXX again that I was going to accept that and not move forward in Chase. Note that I did n't ask for a match, I just said stop the case. XXXX also confirmed it in the email. During the entire process, I DID N'T provide a single piece of documentation, credit card number for deposit, or sign any documentation. 

I did n't have any contact with Chase for my case afterwards until XXXX XXXX XXXX called me on XXXX. XXXX asked me that if I got the loan from any bank. I told him that I 've gotten one from credit union which was XXXX and {$1300.00}. XXXX asked me to send him the digital copy of the estimation. In the afternoon of Friday ( XXXX ), XXXX called me again and told me that he got a very good rate of XXXX and a rebate of {$600.00}. Therefore I visited his office on Saturday ( XXXX ). I provided my documentation ( XXXX ). XXXX shown me the rate on computer and printed out a few paper. I reviewed all materials, gave the consent to XXXX XXXX to move on and provided the credit card for deposit. However, the system fail to lock the rate on Saturday ( XXXX ) so I had to send the signed letter on next week to proceed. 

A few days later, XXXX told me that the rate was locked at Chase. I was very surprised at the situation as I only gave consent to locking the rate at Chase on XXXX. XXXX asked me to write a statement regarding what happened so he could forwarded it to his manager XXXX XXXX XXXX. It was very disappointed that I waited almost one month and did n't get any response from XXXX XXXX. In early XXXX, I had to call XXXX XXXX to ask the status of the application. Unfortunately, XXXX XXXX insisted that the rate was locked before without showing any evidence. He refused to resolve the issue, kicked the ball the another department. 

Till today, I still do n't get response from Chase. 

Summary : 1. I DID NOT demand to lock the rate in XXXX. 
2. I DID NOT even know when the rate was locked and what kind of rate was locked. Please provide materials to let me know because I might be somehow misled. 
3. I DID NOT sign any documentation to XXXX or provide any documentation to lock the rate. 
4. I DID cease the application with XXXX in XXXX.

Company response to consumer: Closed with monetary relief