Consumer complaint received 2026-03-02 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: JPMORGAN CHASE & CO.
State: NY

Complaint narrative:
I am filing a formal complaint regarding the handling of a mortgage assumption by JPMorgan Chase Bank , N.A . This assumption arises from a life event ( divorce/separation ). I am already an owner and responsible for the property and am attempting to remove my former spouse from the mortgage obligation. The loan is performing, current, and financially supportable by me alone. Industry practice is that a mortgage assumption in a life-event situation typically requires approximately XXXX days for underwriting and final determination. However, Chases process has extended far beyond any reasonable or customary timeframe. In my case, the assumption process has now exceeded 6 months, and I have been informed it will exceed XXXX. I have been in escalation for months and it has not done anything to speed the process. The following issues are occurring : 1. Excessive Response Delays Each time Chase requests information or clarification, the turnaround time for review is approximately three months regardless of how minor the request is. A single underwriting question effectively restarts another 90-day waiting period even if the question is irrelevant. In my case they asked for Income from my real estate license in 2024. I did not have the license until XXXX of that year, disclosed all the information we sent and verififed with my provided tax return.. 2. Lack of Case Review or Escalation There appears to be no assigned underwriter or decision-maker reviewing the file. Customer service representatives can not answer scenario-specific questions and can not move the file forward. Any matter outside a scripted checklist can not be addressed. 3. Failure to Provide a Reasonable Process Mortgage assumptions inherently involve non-standard situations. I am a business owner ; the property is an investment property generating steady income for over 6 years and is guaranteed from the Section 8 program. Chases process does not allow for any underwriting review that has any understanding of the property or my file in particular. As a result, the process is effectively stalled without a path to completion. I was told all my existing paperwork expired on the XXXX of XXXX That means another XXXX weeks to ask me for new paperwork, and then when I return it another 6 weeks to review it by a completely different person. If they now have everything there will be another minimum of 60 days for underwriting. 4. Potential Consumer Harm The delay places the borrower in legal and financial limbo and prevents resolution of a divorce-related obligation. It also exposes the borrower to unnecessary risk and expense. The length and structure of this process functionally discourage the assumption of an existing loan. I have suffered loss of sleep and the inability to move on with my life as well as countless hours of filing, following up and refiling for 9 months straight. 5. Concern Regarding Constructive Denial The practical effect of these delays is to make assumption infeasible and to pressure borrowers into refinancing into a new mortgage at a higher interest rate. The bank processes new mortgages in a fraction of this time, yet assumption requests remain unresolved for up to a year or longer. I am not confident using the same processes we will ever be able to close and might not be granted the assumption because of any erroneous reasons. The property generates income from XXXX rentals and I have more than enough income to support all my financial obligations. There is no reason for the length of time for this assumption.

Company response to consumer: Closed with explanation