Consumer complaint received 2022-01-10
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: JPMORGAN CHASE & CO. (DE)

Dear Consumer Financial Protection Bureau I am filing a complaint against Chase Bank and its Home Mortgage Loan Department for : 1. Failure to provide me complete and accurate information concerning Chases requirements for obtaining a home mortgage loan BEFORE I gave them a {$500.00} deposit. 
2. Although I was assured by an Executive Office Staff ( XXXX XXXX XXXX ) that I would receive a full refund of my {$500.00} good faith application fee, Chase deciding instead to unjustly keep my {$500.00}. 

In XXXX of XXXX, I filed an online loan application with Chase to refinance my current mortgage. This was the worst, most stressful thing I could ever have done. 
After 2 months of waiting for a reply from a mortgage department staff, I went into a Chase branch on XX/XX/2021 and spoke with XXXX XXXX XXXX XXXXXXXX, a personal banker. I explained to him that I had submitted an online application but no one contacted me from Chase. XXXX XXXX said he would forward my information to his collegue XXXX XXXX and she would contact me. The next day, I spoke with XXXX XXXX about refinancing my current mortgage. She wanted to immediately pull my credit report. However, I told her that I wanted to make sure I would qualify for the loan BEFORE I pay the {$500.00} application fee. I specifically said that I could not afford to forfeit my {$500.00} deposit, therefore, I wanted to address my concerns up front. I told her that I had 3 concerns.

1. I was self employed and did not have a traditional W2 income. 
2. I told her my current loan was in forbearance and wanted to make sure that this would not prevent me from getting approved for a loan 3. I told her that the property deed was held in the name of my TRUST and I asked if that would be an issue with getting the loan approved. 
XXXX was unsure if any of my 3 concerns would be an issue, so she wanted to speak with her manager XXXX before she answered my concerns. I told her it would be BEST if I spoke with XXXX ALSO before we proceed with the mortgage application. On XX/XX/2021, I spoke with XXXX and repeated my concerns to him, just as I did to XXXX. XXXX assured me that my 3 concerns would not be a problem and would not prevent me from being approved. He suggested that I should submit all my documents to XXXX, and have her pull my credit report so that Chase could do a preliminary application/underwriting review BEFORE I submit the {$500.00}. Once all the documents were in hand, Chase would be able to determine if there would be a problem. I agreed to do as XXXX suggested. 
On XX/XX/2021 XXXX emailed me a long list of documents to upload to the Chase portal for which I complied. On XX/XX/2021, I received another email from XXXX stating : 1. that she received my documents and that my file was ready for XXXX XXXX based on my information submitted, I would be eligible for an appraisal waiver 3. I would hear from her in a week or 2 once the file is reviewed by the underwriter. 
On XX/XX/2021, XXXX called me and stated that everything went well and that she now needs to collect the {$500.00} fee. I gave her my Chase credit card number and she charged my account. 
On XX/XX/2021, I received a mortgage commitment letter stating my application was approved. 
Over the next two months the process took a negative turn. I received a call from XXXX XXXX company informing me that I would need to have my attorney change the title and prepare a new deed for the property. When I asked why Im being asked to change the title deed, I was told someone would get back to me with an answer. After several weeks passed with no answer to my question, I contacted the Chase Executive Office for help. My case was assigned to XXXX XXXX XXXX. XXXX XXXX stated she would contact the mortgage department to get an answer to my question and find out why no one has returned my call. However, on XX/XX/2021, I received a voice message from someone name XXXX XXXX asking me to call her concerning my loan application. When I call XXXX XXXX, she informed me that in order to move forward we will need verification of the Forbearance/payment deferral plan and also verification that at least 3 consecutive payments have been made since the approval of the plan. I was SHOCKED since no one at Chase had EVER mentioned that I would need to provide proof of 3 consecutive payments on my forbearance loan. ( Especially since my current mortgage-lender did not require me to make a mortgage loan payment until XX/XX/2021. ) Since I was NEVER told of this requirement, I again called XXXX XXXX XXXX at the Executive Office. 


XXXX XXXX said she KNEW that I WAS unaware of the 3 payments requirement and that Chases staff failed to inform me during the process. For this reason, she asked XXXX XXXX to personally contact me to explain the 3 consecutive payment requirement. I told XXXX XXXX, that the mortgage process has been stressfully horrible and that as a long time Chase customer, I am appalled, extremely disappointed and VERY depressed. I had spent the last 4 months going through this loan process and I want my {$500.00} returned to me. XXXX XXXX stated that she would make sure my {$500.00} was returned to me since the loan processors fail to inform me of the 3 payment requirement. XXXX XXXX promised that it would take a few days, but my {$500.00} would be returned to my Chase credit card from which it was withdrawn. I waited about 2 weeks but the money was never refunded to my credit card. On XX/XX/XXXX, I sent an email to XXXX XXXX inquiring about my {$500.00} refund. She said I would NOT be receiving a refund. 

I immediately contacted the Executive Office again and was told that XXXX XXXX was out of the office but I could speak with XXXX XXXX. I explained to XXXX XXXX what had happened with my application and he said he would contact the loan department about getting the {$500.00} refunded. I told him that XXXX XXXX assured me that I would receive a refund. Two days later, I received a voice message from XXXX XXXX confirming that he spoke with the loan department and I WOULD NOT be getting a refund. 

After reading many reviews from other consumers, I believe that Chase is using its mortgage loan process to rip off consumers of their good-faith ( {$500.00} ) money. Im asking the Consumer Financial Protection Bureau to investigate Chases mortgage refinance practices and policies. More importantly, to instruct Chase to return the {$500.00} which was taken from me.