Consumer complaint received 2024-03-26
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: JPMORGAN CHASE & CO. (TX)

Chase currently advertising VA loans XXXX XXXX XXXX XXXX as well as the XXXX for closing for VA and XXXX if they don't close on time. 

Since XXXX  and so many others don't advertise VA rates I called XXXX at XXXX. 

I asked the mortgage rep who stated his name was XXXX XXXX VA rates. His response indicated cleary he has no clue. I literally had to spell it out " veteran administration loan '' He finally gave me a rate not sure if it is accurate as he sounded lost and confused. I went on to ask about buy down points still confused, I asked to speaked to a supervisor over XXXX times. He wouldn't transfer me, so I hung up and called again. I asked again for the VA rates and XXXX points allowed to buy down. 

XXXX stated that there is no one in XXXX ( over XXXX employees ) that he can transfer me to, he does not have any information on VA loans. He stated that I have to go online ( which doesn't provide ANY VA information ) or to a branch. I repeated this as this is the very first time I have ever heard a bank employee say anything on these lines. It's very alarming. 
One of the reps suggested I apply even though they were not able to provide me any information. 

I am a XXXX who has used my VA loan several times. I am not sure what is going on, if XXXX  does not want to service VA loans, why falsely advertise? Why so many hurdles for XXXX? How can the largest bank in the XXXX have no mortgage officer with a VA specialty? Why isnt that information advertised with employees name, number & email? How many XXXX are calling in and not being provided information on a product offered as a thank you for our sacrifice? Perhaps is this a reason my fellow XXXX are not using their benefits, banks are doing this like this which cause a veteran to use a conventional loan and put money down they may not had to? This raises so many concerns. We already have XXXX federal that appears to be denying loans on minorities XXXX and other dod employees. 

Why are bank such as XXXX, XXXX XXXXXXXX and XXXX allowed not to advertise rates for XXXX? Even XXXX XXXX and XXXX advertised all loans. Why must us veterans have to call just to get basic information? 

At the same time, all of these banks and other lenders are pushing people to blindly apply for loans without giving any information on the process and setting expectations. 

I understand we are in a digital Era, but does thst mean that it is okay to skip important pieces? Or make it so difficult to get routed to a person to ask questions on mortgages? I can only speak to this area as I have noticed this for awhile and I am seeing it again as I shop around for rates. 

Thanks in advance for your assistance, I hope real change can occur. 


Why would I apply for a loan with no information? Neither representative told me anything about the promotion that is advertised on chase.com I saw it Sunday and I checked prior to sending this message as well. 

That is bad practice, a home loan is an important milestone. Thus new just push people to apply seems to operate in bad faith from any lender that does not encourage people to call in first. It is well known majority of people have no clue.