Consumer complaint received 2024-12-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Lien release
Company: JPMORGAN CHASE & CO.
State: TX

Complaint narrative:
I am writing to formally file a complaint regarding JP Morgan Chase Bank and its handling of the release process for land located at XXXX XXXX XXXX, XXXX XXXX, Texas XXXX. The delays, lack of communication, and mismanagement throughout this process have caused significant inconvenience, financial loss, and undue stress.

In addition to the challenges detailed below, I paid a non-refundable {$500.00} appraisal fee and a non-refundable {$300.00} processing fee, as required by Chase Bank. Despite paying these fees, there has been no meaningful progress or clear communication regarding the status of my case.

Critical Impact : Lost Buyer Due to Delays The most significant consequence of Chase Banks inaction is the loss of the original buyer for the property. We had an agreed-upon closing date of XX/XX/scrub> 2024

, but Chases failure to attend to my application in a timely manner forced us to push back the closing date twice. The buyer eventually withdrew their offer, citing the continued uncertainty and delays. While I have since received another offer from a different buyer, I am unable to proceed with the sale because Chase has still not finalized the land release process. To date, I have no timeline for when this will be completed, nor have I received any updates or clarity from Chase regarding the status of my case. Breach of Duty and Financial Harm As a financial institution, JP Morgan Chase Bank has a fiduciary duty to act with reasonable care and diligence in the performance of its contractual and administrative responsibilities. The delays and lack of transparency in processing my land release request represent a breach of this duty. The resulting financial harm includes : Direct monetary loss : The non-refundable {$500.00} appraisal fee and {$300.00} processing fee have not resulted in any progress or actionable outcomes. Loss of the original buyer : The delays caused by Chase directly led to the withdrawal of the initial buyer, resulting in lost time and potential financial implications due to market conditions. Stress and inconvenience : The prolonged delays, coupled with the lack of communication, have caused significant emotional distress and hindered my ability to resolve this matter efficiently. Summary of Events and Delays [ Retain the summary as outlined earlier, including communication attempts and blocked emails. ] Legal and Regulatory Implications The failure of Chase Bank to communicate effectively and process my request in a timely manner may be in violation of federal and state consumer protection laws, including but not limited to regulations enforced by the Office of the Comptroller of the Currency. Under principles of good faith and fair dealing, Chase Bank is obligated to manage customer accounts and related transactions in a manner that does not create unnecessary delays, financial losses, or stress. By failing to meet these obligations, the bank has created a situation of negligence and may be liable for damages arising from these actions. Additionally, the lack of a clear timeline, coupled with blocked communications and unavailability of key representatives, suggests a failure to adhere to regulatory standards of service required of financial institutions. Request for Resolution I respectfully request your assistance in addressing this issue and holding JP Morgan Chase Bank accountable for the following : Failing to provide a clear and timely update on the status of my submission. Not completing the appraisal or providing a timeline for its completion, despite accepting non-refundable fees for the service. Causing the loss of the original buyer for my property due to delays in processing my application. Failing to provide transparency, effective communication, and accountability throughout this process. I further request an evaluation of my eligibility for reimbursement of the non-refundable fees, given that the services promised in exchange for these payments have not been delivered. The delays and mismanagement by JP Morgan Chase Bank have caused significant financial harm, the loss of an original buyer, and undue emotional distress. I urge the Consumer Financial Protection Bureau to take immediate action to address this matter and ensure compliance with all applicable laws and regulations.

Company response to consumer: Closed with non-monetary relief