Consumer complaint received 2022-08-11
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: JPMORGAN CHASE & CO. (WA)

The below is a warning to all to stay away from Chase lending. Not only was my experience terrible, and I dont expect to ever remedy my perception now of this company. But the source of this complaint is that Chase didnt even follow through on their " Closing Guarantee '' of at least {$2500.00} dollars being reimbursed if closing date was not met. Please stay away from this company, and if you need any proof of the following ordeal I will be happy to provide in a secure manner, I have retained all signed documents, statements, letters, emails, etc... that can show what is said below is factual. 

Start of the Mortgage Journey : Pre-Approved for a XXXX mortgage with at least 15 % down payment ( months leading up to my house search ) XX/XX/2022 Go under contract with house. Offer is XXXX with a 15 % down payment with {$30000.00} earnest money in escrow XX/XX/2022 Loan officer ( can provide his name ) and I go through the initial documentation required. Which included proof of XXXX Funds I would be receiving from my partner and father in the total amount of {$49000.00} XX/XX/2022 Original Close date set to XX/XX/2022 XX/XX/2022 XXXX fund documents are signed + sent to Chase ( including statements of the source funds, and the fact the source of my fathers funds will come from his 100 % owned business checking account ). No issues raised, all documents confirmed + received + reviewed by loan officer to be in good standing order XX/XX/2022 XXXX money transferred to Title company ( documentation sent to Chase ) XX/XX/2022 Conditional Approval of Loan is confirmed by Chase XX/XX/XXXX XX/XX/2022 Several back n forths with underwriting on clarifying documents already sent, or requests for me to send same document previously sent ( all I have documented in email ). Also during this time, I made daily calls to Chase to ensure everything was going smoothly and if they needed anything I could provide it instantly. Also, during this time insurance, utilities, etc.. all set up for the new house XX/XX/2022 Last transfers were posted to my main checking account, in the amount of {$110000.00} to cover the remaining down payment XX/XX/XXXX XX/XX/2022 The final days of closing, it was impossible to get my loan officer or case worker on a call to see what the status of my mortgage was. I received no call backs, no emails, nothingattempts by my real-estate agent and title company also met the same unresponsiveness June 17th 2022 Day of closing, I receive a call at XXXXXXXX XXXX from my Loan Officer informing me that underwriting has not approved loan. This is due to the source of my fathers gift funds, coming from an entity and not a personal account. I informed loan officer why wasnt this brought up weeks ago when I provided this documentation then?. To his response He was unaware this was not allowed, that it must have been something new, that he has never seen this before. 
XX/XX/2022 I get my father and Loan officer on the phone together, to try and sort out what is needed here to push this past underwriting. Loan officer doesnt have any answers, other than this will be escalated and likely resolved in the next couple of days. 
XX/XX/2022 New close date is set with home owners for XX/XX/2022 XX/XX/2022 Spoke to a sr. Manager at Chase, requesting we provide documentation of my fathers 1090 tax forms proving 100 % ownership of the funds being transferred to me ( NOTE : this is the 1st time I am informed this is a requirement ) XX/XX/2022 Tax forms are provided to Chase XX/XX/2022 No communication with Chase occurs from XXXX XXXX despite my daily requests for updates and call backs from them. 
XX/XX/2022 No response from Chase still. We are now 6days past our original close date, with only XXXX more days to go for new close date. Emails, calls, etc from agents + title company are all ignored by Chase XX/XX/2022 Finally at XXXX XXXX I am informed via email that underwriting has approved the loan XX/XX/2022 Documents are still not sent to Title company from Chase XXXX Constant back n forth between Title and Chase, at first they stated we didnt think we needed to send documents until XXXX, then they stated we are having technical difficulties sending documents XX/XX/2022 Documents are finally sent to title company at XXXX XXXX. Too late to schedule a signing with notary in time to complete prior to weekend. 
XX/XX/2022 1 day before new close date, signing documents with notary. Chase sent 1090 tax documents for me to sign, 1 of which was for someone who wasnt me. Try to get Chase on phone, their 1st response ask your title company get transferred to someone else because I said title didnt send these documents YOU did. I am promised a call back XX/XX/2022 Waited in notary office for 45 minutes before I finally get a call back to which they said our mistake we sent you someone elses tax documents, please shred XX/XX/2022 House finally closes ( 14days after original close date ) XX/XX/2022 I submit an official complaint to Chase with their escalations department XX/XX/2022 Receive a call on my complaint, where they only address the fact I was sent personal sensitive information, they then close the case. 
XX/XX/2022 I call back asking I want my case re-opened. Not only for the terrible experience I had, but I am also promised a Closing guarantee refund of {$2500.00} XX/XX/2022 I have to call back asking for a status on my case, saying they will give me a call back in 2-3 business days XX/XX/2022 Receive a call back, my request for closing guarantee is denied stating I did not qualify, due to this being out of Chases hands and my funds were not ready prior to closing date XX/XX/2022 I send an email to escalations department, providing proof of the above timeline in documents, pictures, and emails showing clearly that I had sent documents well in advance and that funds were available prior to closing. That is was Chases inability to inform + approve funds that cause closure date to be missed. 
XX/XX/2022 Receive call from escalations team, informing me again I do not qualify. I asked if they received my email, they stated yes, I asked did they review the content? They stated no. When asked why I didnt qualify? They responded Your Loan officer stated that your funds were not available and that I didnt provide documentation of those funds in a timely manner This is clearly ( to me ) a case of fraudulent & false advertising. I have very clear documented proof of this entire ordeal and that what I have said above is factual. This Loan Officer is lying and Chase has failed to live up to their promise