Consumer complaint received 2022-05-30
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: JPMORGAN CHASE & CO. (CA)

Can you let me know why after i paid my $ XXXX down payment and signed my loan papers, I was told by Chase bank that if i didnt throw down another $ XXXX, you would not fund my loan? 

I have incurred health issues since this traumatic event and have been unable to discuss this particular piece without further ill effects until now. 

XX/XX/21 - Im told via email that i need to provide an signed gift letter that has a wet signature by me and my dad I had already submitted an electronically signed one. See attached for a copy of the gift letter I was asked to sign. 
XX/XX/21 - i respond via email that my dad is not able to wet sign the letter. 
I receive a phone call the same day advising me that my dad can sign the letter and take a picture of the document or I can sign the letter for him. 
XX/XX/21 - My loan is supposed to close on XX/XX/21. I have not been provided ANY Information on how Im supposed to pay for it. I call my loan officer XXXX XXXX. I inquired that Im wondering how do I actually pay for this house? 
While I had set the rate with him, I didnt even know whether I was paying XXXX oXXXX XXXX % down,, he had apparently already decided that on my behalf, or any of the conditions that go along with paying XXXX oXXXX XXXX % down. I ask him how this is to be paid for, and he says by wire. Then Im left scrambling to see how Im going to cobble the $ XXXX down payment of cash together. 
XX/XX/21 - My loan is set to close on this date, but you, Chase Bank, just figured out that my home suddenly needs condo approval putting my loan in severe jeopardy. I speak with the loan assistant to see whether you will be able to actually make this loan close. I also ask whether I can make the down payment via wire transfer from 2 accounts. She says she doesnt know. The other loan person, XXXX XXXX, will let me know what the procedure is for signing and completing the loans. It was a miracle that I was even talking to her because she never responded to multiple emails and phone calls I left her and really provided NO HELP TO ME DURING THE ENTIRE LOAN PROCESS. 
XX/XX/21 - I speak to XXXX XXXX regarding the signing of the loan documents and how I will pay. I ask her, how I need to provide the down payment. She says via wire or check but the paper I receive from the title company will have instructions on how to pay. 
XX/XX/21 - The instructions from the title company say that i can pay by cashiers check, which i do. I sign the loan documents at the title company. After the nightmarish XXXX I had been through wondering if this loan would close on time because you didnt realize the home needed condo approval, I think that the house is finally mine. 
XX/XX/21 - I receive phone call from the loan assistant telling me that my dad did not wire $ XXXX to the title company and they would not fund the loan because of that. 
EXCUSE ME I SAID? I ALREADY PROVIDED THE DOWN PAYMENT VIA CASHIERS CHECK FOR $ XXXX. 
She said that I provided a signed gift letter that stated bound me to providing $ XXXX via wire transfer from my dads bank account. 
EXCUSE ME? 
HOW WAS I SUPPOSED TO KNOW THIS? 
EARTH TO CHASE BANK - IS ESP YOUR PREFERRED METHOD OF COMMUNICATION? 
I had just spoke to 3 different representatives from your bank specifically asked, how i need to pay for this loan. 3 golden opportunities above for someone to tell me that if my dad didnt wire $ XXXX of the down payment, youre not going to fund this loan. 

I ask the loan assistant what the options are. She said that they could redo the loan documents. WHAT? That wont work because my loan needs to close by the next day, due to your royal mistake of already being late with loan because your error in not realizing the house was a condo, even though the purchase agreement states its a condo. If the loan docs were redone but not done in time, the builder threatened that i could lose the house. 

The other option she said would be for my dad to wire $ XXXX to the title company. The title company would then refund the $ XXXX back to me. This was after I already provided the stipulated $ XXXX down payment. 

DOES THIS MAKE SENSE TO YOU BECAUSE IT DOES NOT MAKE SENSE TO ME? 

I did already sense that I wasnt working with anyone who knew what they were doing with this loan. I reached out to Chase Executive Customer Service Center and was told I would receive a call back. CRICKETS, NO CALL BACK. 
The call center also provided the name of XXXX XXXX manager- XXXX. I call him. NO CALL BACK. 
I got the name of XXXX manager, XXXX XXXX. I had told him that i didnt want to work with XXXX anymore after the condo approval issue and needed someone who could look after this loan that knew what they were doing. He said i could call him. I called him. NO CALL BACK because hes on PTO. 

At this point, I dont know what my options are other than to beg my dad to provide $ XXXX for the odd reason that you, Chase Bank XXXX messed up again. 

$ XXXX may not be a lot of money for you, but its a whole lot of money for me to be flying around the state of california like a paper plane. 

I burst into tears and begged my dad to do the wire. He coiuldnt do it over the phone. He had to go to the branch even though he was just about to eat his lunch. I urged him to go asap so this loan could actually close. He does not live nearby, so its not like i could take him and handle all this in person. 

He wires $ XXXX to the title company. Then a few hours later, the title company tells me that my $ XXXX refund check is ready.. 

DOES THIS MAKE SENSE TO YOU BECAUSE IT DOES NOT MAKE SENSE TO ME. 

I then have to go to the title company to pick up the check, deposit it in my account, wait for it to clear, and then deposit it back into my dads bank account. A process which took more than 2 weeks, due to my bank being out of state and large sums of money crossing state lines do not process immediately. 

I WANT ALL THE FEES AND MILEAGE I INCURRED IN ADDITION TO MY DADS LUNCH REIMBURSED BACK TO ME FOR THIS NONSENSICAL EXERCISE YOU PUT ME THROUGH. 

My dad is old. He doesnt have a whole lot of lunches left, and you completely ruined one of them. 

I looked at the gift letter. NO WHERE DOES THE GIFT LETTER SAY THAT THE MONEY MUST BE WIRED TO THE TITLE COMPANY ON THE DAY OF CLOSE OTHERWISE YOU WILL DENY THE LOAN. IT JUST VAGUELY SAYS THAT THE MONEY WILL BE PROVIDED AT SOME NEBULOUS POINT IN TIME. 

I WOULD LIKE A FULL EXPLANATION OF WHY NO ONE TOLD ME OF THIS WIRE TRANSFER REQUIREMENT AND THE MONEY I INCURRED REIMBURSED BACK TO ME FOR THIS HARDSHIP. 

PLEASE REIMBURSE ME THE FOLLOWING FUNDS : {$35.00} IN WIRE TRANSFER FEES MY DAD HAD TO PAY TO WIRE $ XXXX FROM HIS ACCOUNT TO THE TITLE COMPANY ONLY TO HAVE IT REFUNDED BACK TO ME. 
10 MILES HE DROVE REIMBURSED AT THE IRS RATE OF {$0.00} PER MILE4 FOR {$5.00} TOTAL. 
{$55.00} I INCURRED IN WIRE TRANSFER FEES TRYING TO GET $ XXXX DOWN PAYMENT TOGETHER BY THE CLOSE DATE. I WOULD NOT HAVE INCURRED THESE FEES HAD $ XXXX HAD TO COME FROM MY DAD. I WAS NOT ALSO GIVEN APPROPRIATE TIME TO GET THIS CASH TOGETHER AND HAD TO USE WIRE FEES. OTHERWISE I COULD HAVE DONE REGULAR BANK TRANSFERS THAT WOULD HAVE BEEN FREE. 
25 MILES I DROVE TO GO TO THE TITLE COMPANY TO PICK UP THE REFUND CHECK REIMBURSED AT THE IRS RATE OF {$0.00} PER MILE FOR {$13.00} {$25.00} GIFT CARD TO XXXX BECAUSE YOU OWE MY DAD LUNCH TOTAL COMPENSATION = {$130.00}