Consumer complaint received 2025-03-14 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: JPMORGAN CHASE & CO.
State: CA

Complaint narrative:
I was shopping for a house for me and my wife on behalf of my wife as she wanted to buy a house while she was serving in the XXXX XXXX in XXXX. Since I have banked with Chase for years, I decided to check them out and on their website it said " If you're a Chase customer buying a new home or an investment property, you XXXX be eligible for our Chase Closing Guaranttee. We promise an on-time closing or you'll get {$20000.00}. Limited time offer, XXXX XXXX XXXX, 2023. Because of this I decided to go with Chase instead of another bank. During the process purchasing a house, Chase was not accepting our Power of Attorney document that was written by the XXXX XXXX XXXX XXXX JAG/attorneys. I kept asking them why they would not accept it, but they kept saying it does not fall under Fannie Mae 's guidelines. They wanted the specific address of the house, along with other information and someone else not being me given the power. This delayed our closing and we did not close on time. My XXXX  had to squeeze time to go to the base office to get a new Power Of Attorney written and mail it all the way from XXXX, taking about a weeks time. Not taking the power of attorney was illegal and especially when it was a well written POA by the military, we felt discriminated against for being military family. When I inquired multiple times about it, I kept getting routed to " resolutions team ''. The funny part is they are not from XXXX, and they have no knowledge of laws here and dealing with XXXX of XXXX. They kept ignoring my question as to why it was denied until finally they said did not meet Fannie Mae guidelines. I of course went online to Fannie Mae website to review it and see if they are available and they are. Section B8-5-05, Requirements for Use of a Power of Attorney states under General XXXX XXXX XXXX XXXX Attorney XXXX XXXX If a lender determines that it is required by applicable law to accept a POA presented by a borrower, none of the following requirements for, or limitations on, the use of a POA apply. In such cases, the lender must include a written statement in the loan file that explains that determination. Such written statement must be provided to the document custodian with the POA. '' This means that Chase had to accept our Power Of Attorney, and due to my wife 's military service they had to write a written statement explaining it. This is why I believe we have been discriminated against, and it is Chase 's fault for us closing late. They violated law, and discriminated against military family and military written POAs. 

Chase also had no reason to try to follow XXXX XXXX 's guidelines because they are the ones carrying out the loan. Well seems because they wanted to sell the loan. Regardless, by stating that they could not take the power of attorney due to Fannie Mae guidelines, they did not follow proper procedures as there was an exemption available. 

Anyways, at the end a person by name of XXXX XXXX, reached out to check that everything was well and alright. His title was XXXX XXXX XXXX. I told him the issue that happened with the XXXX, and about the {$20000.00} and he was going to look into it. He got back to me and said did not meet the qualifications for the {$20000.00}, and never got back to me about the XXXX issue. It appears very obvious that they are limited in what they can do or say because no one would really say anything when I showed them the Fannie Mae guidelines, they were completely ignoring it. Due to this, I believe that Chase knows they messed up and tried to stay quite and hope for me to stop reaching out. After he failed to respond back to me, and I stated I would pursue legal action, I received a phone call trying to resolve the problem. Again they said I would not qualify for the money, and also could not tell me anything about the Fannie Mae guidelines. This was their last attempt where they tried reaching out to me as far as I know and I did tell them over the phone I would be pursuing legal action.

Company response to consumer: Closed with explanation