Consumer complaint received 2015-08-25
Product: Mortgage — Conventional fixed mortgage
Issue: Settlement process and costs — 
Company: JPMORGAN CHASE & CO. (TX)

My fianc and I bought a condo last year which closed on XX/XX/XXXX. JChase Bank was our lender. We attempted to buy the condo where both of us would be on title while only one would be on the loan. We were told from day one of the lending processes that this would not be an issue. With less than XXXX hours before our closing, the bank informed us that only the person on the loan could be on title, thus, excluding me from ownership. The complicating factors are : ( 1 ) the person putting up the money for the down payment would not be on the title ( 2 ) we would have never sought to purchase the property had we know this information in the beginning, ( 3 ) with less than XXXX hours to closing, there was no time to find a remedy to the solution, ( 4 ) for us to walk away from the deal, would have cost us money, ( 5 ) we were planning to move in the property right away ; thus leaving us effectively home-less and with little time to find a solution. We proceeded with the closing considering the complicating factors mentioned above. 
After the closing, Chase asked to submit a survey regarding our experience with their lending process. We outlined our complaints and case number XXXX was opened. Chase did an internal investigation and on XX/XX/XXXX sent us a letter ( exhibit 1 ) that stated that Chase made an error and that both of us could be on the title. 
Chase 's remedy to their error involved filing at Quit Claim Deed to add us to title. We researched the effects of filing a quit claim deed and discovered XXXX issues ( 1 ) a quit claim deed could possibly cause problems in the future when it comes time to sell the property and ( 2 ) altering the title via Quit Claim deed or any other deed would void our title insurance policy that we purchased at our closing, leaving us vulnerable to any potential title defects that were not discovered during the title search. We deemed this remedy as unacceptable. 
We went back and forth with Chase, asking if Chase was going to pay to replace our title insurance policy and would they we willing to provide a full warranty deed. Our questions and emails went unanswered, making us feel like Chase would just hope we would go away with time. As of the filing of this complaint, we have yet to receive a response to that question. 
Most recently, I attempted yet again to get to a resolution with Chase. XX/XX/XXXX, I reached out to Chase to start the process again. Most of my emails were either ignored or the response I received was 'I 'll get back to you on this '. On XX/XX/XXXX, I reached out a final time and the response was 'There is nothing we can do ; XXXX days has passed since the closing of the loan and everything has been recorded at the court house. ' This was the first time we had been made aware of a XXXX window to remedy the error. However, the more puzzling and interesting thing is that Chase did n't even come to the conclusion that they made an error until after their internal investigation was completed and we were made aware of their solution on the letter dated XX/XX/XXXX ( see exhibit 1 ). This is another example of making us feel like Chase was hoping that we would just go away. On XX/XX/XXXX, we received final notification from Chase that there is nothing they could do. 
We offered the following possible acceptable remedies : ( 1 ) getting an entirely new loan with both of us on title at no cost to us ( 2 ) executing a warranty deed and the purchase of a new title insurance policy at no cost to us. But, neither were accepted. 
It seems unfair that we would have to pay for a new title insurance policy or pay anything to correct an error that Chase Bank has admitted to. Second, we do n't want this situation to happen to anyone else.