Consumer complaint received 2020-06-20
Company: JPMORGAN CHASE & CO.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Throughout the week of XX/XX/XXXX, I spoke to XXXX XXXX from Chase Bank. We emailed back and forth. In the email, I explicitly summarized ( XXXX XXXX XXXX ) what I wanted in rates and terms. She agreed by email to accept those terms and rate, if I qualified ( XX/XX/2020 XXXX ). On XX/XX/2020 XXXX, I emailed XXXX XXXX with CC to XXXX XXXX XXXX ( Lead Manager ), I was concerned that XXXX asked me to send sensitive information by regular mail. Only after this concern did they send me a secured company link to send information. On XX/XX/2020 XXXX XXXX  email, I reinforced the fact that I need documents with company letter head to confirm our terms and agreement. Agent said only after all documents are turned in and credit score run, would they give me a Loan Estimate. I complied, reluctantly. I sent them on XX/XX/2020 through secured site information required. I was concerned that Agent was going to cheat me out of the Rate lock, so, on XX/XX/2020 XXXX after emailing my concern, XXXX ( agent ) assured me by email that the rate was locked. On Monday, XX/XX/2020 wanted to me to send paycheck stubs, w2, etc. I asked them Again about the Loan Estimate. Agent continue saying that only after all documents are turned in could only get the LE. So I complied. On that same Monday, they had run the Credit Score, and received a Call ( 3 times in one day ) from XXXX, a third party company hustling for mortgage. I asked how they know I am currently going through loan process. They said because of the credit run, alerted them. I found this upsetting and improper. How did this third ParXXXX lending company get my credit information and phone number!? XXXX Wednesday XX/XX/2020, XXXX claimed that the LE was ready. When I looked at the secured website, I screenshot the website and sent it to her indicating that there was no LE. By XX/XX/2020 Basically business days 5 days from initial application, did I finally Get the Loan Estimate. The rate was not locked and there was about {$1100.00} extra in closing cost not explained and the Loan Principal was wrong. I sent emails to the agents and denies ever agree to the terms and rate. Agent is conducting unfair and deceptive practices affecting commerce which is unlawful. Agent are making deceptive statements, omitting important facts, and taking misleading actions ( as evident on emails and Loan Estimate ). the agent and lead manager has made no attempt to rectify this issue, or call. Terrible customer service : There seems to be Three errors on the loan estimate : The rate is not locked. As discussed in previous emails, they agreed to have the rate locked. Please have the Loan Estimate corrected to have the rate locked, as discussed. 

The estimated cash to close shows $ XXXX.When you add D + I = {$3900.00} in LE. Therefore Closing cost is {$3900.00}. Please have Loan Estimate corrected to have estimated cash to close show {$3900.00}. 

From my XX/XX/XXXX Mortgage statement, it indicates that my current unpaid principal balance is {$190000.00}. The loan Amount in the Loan terms section of the Loan Estimate indicates {$190000.00}. There is a difference of {$710.00}. I would assume that I would be paying this difference in the Estimated Cash to Close. Which should show : {$3900.00} + $ XXXX {$4600.00}? I need please explanation in the loan principle amount difference? 

Here was the agreed upon terms and rates summary : So, basic summary : with a principle loan of {$190000.00} 3.125 % buydown fixed interest rate Lock at 20 year term with total cost of about {$4000.00} and With a monthly mortgage of XXXX ( P and I ). And no prepayment penality or requirement of closing Heloc.

Company response to consumer: Closed with explanation