Consumer complaint received 2024-10-15
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: JPMORGAN CHASE & CO. (ID)

I am seeking relief from Chase banks endless requests for more and more documents before they will approve my assumption of the already existing loan on my real property. Every time they ask for documents, it takes a month or more for them to review the documents requested. At this point, they are not even asking for relevant documents. I have been making the payments, on time, on my own, for more than XXXX years since my XXXX left me. I have more income today than the XXXX of us did when we were first approved for the existing loan. There is no reason for the continued requests for more documents, other than a bad faith attempt by Chase to run out the clock and force me to refinance, rather than approving my request to simply continue paying on the same mortgage that we have been paying on for over 15 years. All Chase has to do is to run out the clock is continue to request more and more documents, without regard for whether or not those documents are needed for them to approve my application. If they request a photograph of my genitals, and I dont send it, they will deny my application for failing to provide the requested document ( s ). 

I am attempting to assume the existing mortgage on the property, so that I don't have to refinance. I was divorced in XXXX of XXXX. Me, my ex-wife, and our respective attorneys didn't know how long it would take for Chase to process the assumption, but assumed it would not take too long. The agreement contemplated that I would borrow money from my mother to pay off my ex-wife 's equity in the real property secured by the mortgage, which is stated in the XXXX XXXX. In exchange, my ex-wife would give me time to get the assumption done. My mother paid off my ex-wife within XXXX weeks of the divorce. However, it took nearly a month to get my ex-wife to provide the XXXX XXXX  to the property, which I needed to have as part of the loan assumption application. Due to the length of time it took to get the XXXX XXXX, I asked for an extension of time to get the assumption done. It took quite a while to get my wife to sign the extension, but she finally did so on XX/XX/year>. 

I ultimately submitted my assumption application to Chase on XX/XX/year>, after carefully reviewing the application and making sure I had all the documentation requested as part of the application. I went to my local Chase branch, and had them " fax '' it to the loan assumption department. It was actually scanned and emailed, because Chase does not " fax '' documents internally, though the application states that they will ONLY accept documents via US Mail or by Fax. I have continued to send all documents the same way, and each time my documents have been scanned and emailed by Chase employees and sent through their own internal communications systems. Included in my application of XX/XX/year>, was a complete copy of my XXXX XXXX, with all attachments, as requested in the application. It states in the Decree that I was to borrow money from my mother to pay off my ex-wife. So, Chase has had that documentation for over 3 months now. 

On XX/XX/XXXX, Chase sent me a request for additional documentation, which I provided, via my local branch, on XX/XX/XXXX. Those requests were reasonable, other than the fact that they could have requested those documents be submitted along with the application, rather than waiting for a month to request them. They also requested that I send them a signed document, which I had already signed and sent in with my application on XX/XX/XXXX. Nevertheless, I re-submitted the previously executed document, and the rest, in a timely fashion. The next day, XX/XX/XXXX, I received a voice mail from XXXX XXXX (? ) ( I cant tell from the pronunciation ) MLS ID # XXXX advising me that Chase was sending me a letter requesting further documentation, and that if I didnt provide it by XX/XX/XXXX, my application would be denied for failing to provide the requested documentation. On XX/XX/XXXX, XXXX weeks later, XXXX and I had a conversation in which she informed me that it would take document processing another XXXX weeks to review my documents before they could be sent to Underwriting. She also informed me that if there were further documents needed, that she would contact me. 

On XX/XX/XXXX, Chase sent me another request for additional documentation. Some of those requests were for documents regarding home insurance : some of the requested home insurance documents didnt and don't exist, which I explained to them in a letter, and which I had supporting documents from the insurance companies to prove that the documents did not exist. Chase also requested that I send a complete copy of my XXXX XXXX, with all attachments, etc. Of course, I had already sent them a full and complete copy of my XXXX on XX/XX/XXXX. Nevertheless, I sent them another copy of my XXXX XXXX on XX/XX/year>, again via my local Chase branch. On that same day, XX/XX/year>, I again spoke with XXXX, who confirmed that a copy of my XXXX XXXX was already in the file and that they had received it on XX/XX/XXXX. I also spoke with XXXX XXXX? ), XXXX # XXXX, who also confirmed that they had my Decree in the file. To be clear : It took document processing approximately XXXX weeks to FAIL to find a XXXX PAGE document, and to request that I resend it. In my conversation with XXXX, on XX/XX/XXXX, she told me that my application should be sent to underwriting, and that underwriting would take 17 days to review it. XX/XX/XXXX came and went, with no communication from Chase. 
Finally, today, XX/XX/year>, I received another letter from Chase, dated XX/XX/XXXX, again asking for more documents. These include : XXXX ) A request for me to provide documentary proof that I have paid my ex-wife her divorce settlement monies. Why do they need this? I have a copy of the check that she was paid with, but if I send that, will that be sufficient proof? Do they need a letter from her attorney saying that it was paid? Am I supposed to obtain a copy of her bank account records to demonstrate that she cashed the check? Will I be required to provide a sworn statement from the bank teller that deposited the check as to the date it was deposited? The XXXX XXXX provides that she will execute and deliver the XXXX XXXX  to the property upon payment of the settlement amount. Chase has, and has had since XX/XX/XXXX, a copy of the executed and recorded XXXX XXXX, which should in and of itself be sufficient proof that she was paid. But even so, what is Chases interest in enforcing my ex-wifes rights against me? Even if I hadnt paid her, why should that be a reason for them to delay processing my application, or denying it? My ex-wife has an attorney, she doesnt need Chases legal department to act on her behalf. By what right does Chase insert itself into my divorce, and negotiations with my ex-wife? 

XXXX ) A request that I provide documents proving where I obtained the money to pay my ex-wife from. Again, it states IN THE DIVORCE DECREE THAT THEYVE HAD SINCE XXXX, what the source of the funds was ; I borrowed them from my mother. It is a family loan with no set repayment terms, because she ( my mother ) wants me to be able to assume the mortgage and keep my house without having to refinance. It is an unsecured, undocumented personal loan between family members. The only term is that I pay her ( my mother ) {$100.00} per month while we are waiting for Chase to allow me to assume the existing mortgage. But again, what does it matter? The EXISTING mortgage is secured by the real property, which is valued at nearly XXXX times ( XXXX ) the balance owed on the mortgage. There is no second mortgage, no HELOC, and no one besides myself and Chase has any claim to or interest in the real property. If I were to declare bankruptcy tomorrow ( NOT THAT I INTEND TO OR WILL ) Chase would get every XXXX they are owed. I have been making the payments all on my own for years now, and have a credit score of about XXXX, last I checked. The source of my funds to pay my ex-wife has no bearing on whether Chase has adequate security for the loan, or whether I will continue to timely make my mortgage payments, as I have for years. 

XXXX ) A request for documentation from my ex-wife proving that I have an extension of time for Chase to approve my assumption of the loan. Again, what does that have to do with my credit worthiness to assume the loan? What business is it of Chases if I am delayed ( BY CHASE ) in complying with the terms of my Divorce Decree, if my ex-wife doesnt have a problem with it? If I were to fail to turn over the dogs leash, or XXXX XXXX, or her share of the collection of shot glasses or refrigerator magnets, would that be grounds for Chase to deny my loan application? At this rate, XXXX have to get an extension on the extension shes already given me, because Chase wont process my application, due to their insistence on obtaining ever more irrelevant and obscure documentation. Of course, I dont know if she will give me another extension, because she wants me to, and I quote " call Chase every day to find out why it is taking so long '' and to quote " raise XXXX '' to get my application approved. 

I have the extension paperwork, and will provide it, along with the other documentation requested, simply because if I dont, I am sure Chase XXXX deny my application for failing to provide the requested documentation. But at this point, I am certain that it doesnt matter, because Chase is NOT acting in good faith, or even attempting to work with me to get this process completed. I am certain that if I provide this documentation, in another month or XXXX weeks, Ill get another letter requesting more documentation after that. What is to prevent Chase from asking for my mothers birth certificate? My sons XXXX XXXX XXXX? My attendance records from XXXX XXXX XXXX? A letter from XXXX XXXX absolving me of involvement in the XXXX XXXX? And if I fail to provide it, my application will be denied for failing to provide the requested documentation.