Consumer complaint received 2022-04-22 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: JPMORGAN CHASE & CO.
State: KY

Complaint narrative:
My application for refinance of my home mortgage loan ( XXXX ) dated XX/XX/2022, was constructively denied by JPMorgan Chase Bank, my longtime banking institution in the most inappropriate, unjust, unfair, and illegal manner. I say constructively denied because Chase will allege that I terminated my application on my own volition. In fact, faced with an unconscionable increase in the loan amount of over {$12000.00} added to the loan in order to proceed and retain my {$500.00} good faith payment or walk away, I opted to walk away and lose my deposit under protest. 

This situation occurred because of an impending deadline for closing of the loan application, which was not emphasized by bank officials, and the unavailability of wife, who had left the country on a cruise. My wife was not a party to the refinance loan application, and it was not revealed to me that her signature would be necessary until the end of the loan, when time was of the essence. 

There was absolutely no reason why this simple refinance should not have been approved within a few weeks or a reasonable time and no reason why my wife should have been required to sign a form or that other provisions could not have been made in order for the closing to have occurred. 

I have insinuated that numerous unreasonable requests from the underwriter, like tax returns, W2s, pay stub, and business records, etc., were XXXX-based and were key factors in the delay and the ultimate denial of my application. The Mortgage Banking Representative, XXXX XXXX XXXX, XXXX and I discussed XXXX  on several occasions, he stated that Chase has the most strict rules for mortgages in the industry, and he noted that the underwriter did not normally request such items in refinance applications such as in this application, so I requested copies of all correspondence, both internal and external ; copies of all form, attachments, and documents ; and any and all other relevant materials, graphs, charts, notes, images, appraisals, narratives, opinions, or otherwise and I requested that Chase preserve the above documentation and any and all audio recordings of conversations related to my application for refinance of my home mortgage. 

I did contact the complaint department of Chase Bank and I have received an email apologizing for the mismanagement of my application from a supervisor but have not received a satisfactory determination of my complaint. I am simply requesting the reopening of my application to refinance my home ( which was complete and ready to schedule a closing date ) at the agreed upon and locked-in interest rate, or a refund of my good faith deposit of {$500.00} to settle this dreadful situation. 

The executive department ( XXXX at XXXX extension XXXX ) also contacted me, also denying my requests. I have not received a written denial of my mortgage application, only an approval of the application. I have income of nearly {$200000.00}, have never been late on my mortgage payment to Chase, and have paid down my mortgage from {$140000.00} to about {$55000.00}. My sister had a similar experience with Chase and there are thousands of other people of XXXX who have been swindled by Chase for their good faith down payments for mortgages. 

XXXX XXXX XXXX XXXX XXXX XXXX, KY XXXX XXXX

Company response to consumer: Closed with monetary relief