Consumer complaint received 2019-03-22
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: JPMORGAN CHASE & CO. (NJ)

On XX/XX/XXXX I applied for a Refinance/Cash-Out Mortgage Loan with XXXX XXXX   XXXX, XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, NJ ( NMLS ID : XXXX ) XXXX in the amount of {$75000.00}. I was approved and Closed on XX/XX/XXXX. My payments were to start XX/XX/XXXX! In the meantime, I paid XXXX XXXX  on XX/XX/XXXX ACH Withdrawal in the amount of {$860.00} for my XX/XX/XXXX Mortgage Payment. On XX/XX/XXXX I also paid by check {$2100.00} Additional Applied Principal Payment ONLY on my loan. A total of {$2200.00} was given XXXX XXXX  in Principal Payments! My Ending Principal Balance was brought down to {$72000.00} as of XX/XX/XXXX! However, I was not properly informed that my Loan had been transferred on XX/XX/XXXX a total of ( 18 ) days after my Closing to JP Morgan Chase Bank, N.A., XXXX XXXX XXXX, XXXX, OH XXXX and my 1st Mortgage payment was Due On XX/XX/XXXX with Chase! I was shocked, dismayed and appalled! This was a Red Flag and not proper business practices! Seriously, my Loan should have never been TRANSFERRED/SOLD only ( 18 ) days after my XX/XX/XXXX CLOSING DATE! I was told that XXXX XXXX  XXXX put my Loan in a 400 Consumers Mortgage Bundle in XX/XX/XXXX to be Legally Transferred on XX/XX/XXXX! XXXX XXXX   REFUSED to send me a Good-Bye/Release Letter in XX/XX/XXXX AFTER MY LOAN WAS ILLEGALLY TRANSFERED TO JP Morgan Chase, N.A. on XX/XX/XXXX and NOT LEGALLY ON XX/XX/XXXX! JP Morgan Chase Bank, N.A. immediately on XX/XX/XXXX Set Up A New Loan in the amount of {$75000.00}! However, I then setup a New ACH Withdrawal Account with JP Morgan Chase and paid JP Morgan Chase Bank, N.A. on XX/XX/XXXX a check in the amount of {$860.00} for the XX/XX/XXXX Chase Mortgage Payment. In the meantime, these ( 2 ) Mortgage Companies have been refusing to correct any errors to their records before the Legal Transfer Date of XX/XX/XXXX! I kept getting the runaround from these ( 2 ) Mortgage Companies to this date! I was LEFT IN THE MIDDLE of now having ( 2 ) ACTIVE MORTGAGE LOANS in XXXX until the LEGAL TRANSFER DATE OF XX/XX/XXXX! My XX/XX/XXXXHomeowners Insurance was paid ( 3 ) times ( 1 ) by myself, ( 1 ) by XXXX XXXX, ( 1 ) by JP Morgan Chase, N.A. My XX/XX/XXXX Mortgage payment was paid twice ( 1 ) XXXX  and ( 1 ) Chase! JP Morgan Chase and XXXX XXXX XXXX reported to the ( 3 ) Credit Bureaus in XX/XX/XXXX/XX/XX/XXXX that I had a balance of $ 74,000+ on each Mortgage Company making my debt appear to be owing a total of $ 147,000+ balance! However, XXXX XXXX   XXXX removed their information on XX/XX/XXXX stating my Loan Account is NOW LEGALLY CLOSED! XXXX XXXX  knew that the XX/XX/XXXX IRS TAX FORM XXXX I was issued shows under my PRINCIPAL RECONSILIATION : {$75000.00} = Beginning Balance, {$2200.00} = Applied Principal, {$72000.00} = Ending Balance! On XX/XX/XXXX XXXX XXXX  XXXX stated they LEGALLY TRANSFERRED {$72000.00} to my New Account with JP Morgan Chase Bank, N.A. On XX/XX/XXXX XXXX XXXX stated they FAXED to JP Morgan Chase Bank, N.A. my Customer Account Activity Copy showing A PRINCIPAL BALANCE OF {$72000.00}! JP Morgan Chase Bank, N. A. REFUSES TO CORRECT THEIR ERRORS with my CORRECT Principal Balance, ( 3 ) Credit Bureau ERROR Reporting on my Mortgage Loan Account! It HAS NOT BEEN brought up-to-date yet! There are recorded phone calls to XXXX XXXX   XXXX and JP Morgan Chase Bank, N.A. since ( XX/XX/XXXX thru XX/XX/XXXX ). I have been having difficulty communication with LOAN SERVICERS from both Mortgage Companies! When able to speak with these Servicers, the information I received was often confusing and did not provide the clarifications I was hoping for. It has now been ( 3 ) months and these customer service issues has led to delays in obtaining needed resolutions for my mortgage loan. The XXXX will be notified! Please help me bring this matter to closure expeditiously! Thank you!