Consumer complaint received 2017-12-07
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: JPMORGAN CHASE & CO. (AZ)

We closed a re-finance with Chase onXX/XX/XXXX I originally contacted Chase sometime lateXX/XX/XXXX inquiring about the refund I had received dated XX/XX/XXXX in amount of {$660.00}. Upon closing, the old loan information was deleted from website, hence my calling to inquire. Was verbally told by loan officer XXXX XXXX ( loan officer ) back sometime end of XXXX, that we were approved and we could transfer the escrow to the new loan. When completing requested loan paperwork, which was email to XXXX onXX/XX/XXXX, a form requesting how we wanted our existing escrow handled ( approx. {$1100.00} ), there was not a check-mark option of transferring over escrow to new loan, as previously told, so I wrote that in on the paperwork and did not check any of the 3 other options listed. Nothing was ever questioned or explained by XXXX XXXX XXXX XXXX ( closing assistant ) that that option was now pulled from the table. She gave me the payoff amount of XXXX that she had requested from her own company that was good until sometime around XX/XX/XXXX, as I recall. I never did receive a payoff-letter explaining that the payoff was short due to the fact that they were going to use the escrow balance to pay-off the loan. Our house payment is automatically pulled on the XXXX and was told to just let it pull, even though it was after closing and was not a factor in the payoff, as it would be refunded. So I was under the assumption that our loan was being paid off and the escrow would transfer over to new loan to avoid fees. A Notary Public, hired by lender, came to our home onXX/XX/XXXX to have us sign paperwork and was unable to answer any questions we had. I unfortunately did n't notice that on our closing cost detail report that was emailed to us prior to closing, that we were actually being charged and financed the establishment of a new escrow fund in amount of {$1200.00}. I however did notice another error they had made wherein they were charging us escrow for the homeowners insurance, which had also been previously approved by XXXX as deemed not necessary, ( I believe due to ratio of loan to value of home ), in which after my pointing that error out, they had fixed the homeowners insurance issue. When we received the check dated XX/XX/XXXX, in the amount of {$660.00}, which I thought was for the refunded payment that was pulled onXX/XX/XXXXplus some interest. I started making calls the end of XXXX to our closing assistant XXXX and spoke to her once and left messages only to have calls not returned, during the month of XXXX. Then I contacted the escrow expert department via customer service in XXXX and it was finally explained to me by XXXX on XX/XX/XXXX what in fact had happened namely, payoff was short as they were planning on using escrow balance to payoff loan, plus also used the payment that was pulled onXX/XX/XXXX, then making an overage of {$660.00}, which was then refunded to us. 
My complaint, as I have explained most recently ( XX/XX/XXXX ) to XXXX XXXX, XXXX XXXX XXXX XXXX XXXX, is that the transfer of escrow was not done in accordance to our request, that I had never received a pay-off letter explaining the reasoning behind their pay-off tactics, as I would have definitely questioned/straightened them out as to how it was to have been done. We 've also had to finance ( increased our loan amount by {$1200.00} ) in order to set-up the new escrow account and the finance fees associated with it. 
I have spent countless hours in attempting to contact various representatives at Chase and the final result from them today is sorry. That is not acceptable to us, the consumer. I feel they were able to make more money from us by handling this way! 
I know that I have spoken to at least 8 people, only to be told by them that they understood my issue and would get back, only to not hear from them. Spoke with XXXX XXXX onXX/XX/XXXX ( XXXX XXXX ) XXXX XXXX, who said she would call me back in 1-3 business days with resolution ... .I left her another message on XX/XX/XXXX, stating that it 's been over 3 business days. Left another message on XX/XX/XXXX indicating that they had 24 hours to get back to me ; otherwise I would going to file a complaint. I did get a call from XXXX Off ( XXXX XXXX ) on XXXX, stating that she was now handling the issue and that it would be at maximum XXXX hours ... .I left her another message on XXXX, after not hearing from her and she did call me back that day and I had to scan and email her a copy of the paperwork, wherein I had indicated that I wanted the escrow transferred, as she had been unable to obtain a copy from her own company. She then called me back this morning, only to say sorry, that she could forward me a copy of the pay-off letter now, after the fact, as to how they handled and that there are no shorted monies. I complained about their company 'practices ' and informed her that I did not approve of that and was not finished in having my complaint heard. 

My hope is that you are able to assist! Not only for myself ... but future consumers!