Consumer complaint received 2025-11-25 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: JPMORGAN CHASE & CO.
State: WA

Complaint narrative:
My husband and I are in a potentially financially devastating situation because of Chase Bank 's incompetency of handling of loan assumptions at scale and their lack of transparency and communication on a loan that stipulates that assumptions should be handled in a timely manner. Our buyers, our very good friends, have also been in constant communication about the process with us and the information they have gotten from Chase Bank. Here is the timeline with the quoted texts from our buyers : XX/XX/XXXX at XXXX PM PST " Hey guys! We got a message from the bank today asking for some more documentation, so we've finally made it to the front of the queue. '' XX/XX/XXXX at XXXXXXXX XXXX XXXXXXXX " I called again on Monday and they said it was still in processing, but all XXXX of us had our credit pulled yesterday. '' XX/XX/XXXX at XXXX PM XXXX " I gave them a call and as of XXXX the loan application is with the underwriting team. They said it can take up to XXXX  days for them to make a decision as long as they don't bounce it back to processing. [ sic ] We haven't gotten any communication from the underwriting team yet. The only contact information they will give us is for the general helpline and the only information they've been able to provide is what team is currently handling the loan. '' XX/XX/XXXX at XXXX PM PST "... The agent that I spoke with let me know that we should have an answer no later than the XXXX of XXXX. '' XX/XX/XXXX at XXXX PM XXXX " It sounds like the person I talked to before was overly optimistic about the timeline. XX/XX/XXXX is the end of the XXXX day window they gave us ( from XXXX XXXX when it went to underwriting ), so we should hear from them any day between now and then. '' XX/XX/XXXX at XXXX PM XXXX " I just called and there still isn't any update. They're now saying it can take XXXX days to process which is definitely not what I was initially told. From when the loan went into underwriting on XX/XX/XXXX. I asked if there was anything we could do to help the process along and she just said no, we have to wait. 

The 90 days is from XXXX XXXX so in theory we would know by XX/XX/XXXX. And no, the estimate was just given over the phone. '' " The problem is there is no email address to send to that will give us a reply. We've only been given no reply email addresses so we'd essentially just be further yelling into the void. '' XX/XX/XXXX at XXXX XXXX XXXX " ... She made sure to stress that she would expect XXXX business days for processing ( so XXXX XXXX ). '' XX/XX/XXXX at XXXX PM XXXX ( 45 days after start of loan underwriting ) My husband called Chase Bank and received assistance from a representative from XXXX 's side who agreed that the timeline felt suspiciously long and had expected that more communication would have happened between our buyers and XXXX. She put in a note into the case and recommended that we, the buyers and the sellers, continue to call frequently and to reiterate how long things have stayed stagnant. 

XX/XX/XXXX at XXXX XXXX XXXX My husband called Chase Bank again and received assistance from another helpful representative. He put in another request into the case but to the management of assumptions. He suggested we call back the following Monday or Tuesday to hear a response back from them. 

XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX My husband called Chase Bank to check if there was an update on the case / response from the management of assumptions. According to the representative, management is requesting another XXXX days in the underwriting process because of the " market conditions. '' This is completely unacceptable for a variety of reasons. 
1. Our buyers have not received any form of communication from Chase Bank except for the initial communication before the loan went in underwriting. They had to reach out to Chase Bank themselves to learn that the loan actually went into underwriting.

2. Credit pulls expire. Given their credit was pulled on XX/XX/XXXX and credit pulls are generally valid for up to XXXX  days, this would expire on XX/XX/XXXX or earlier. This means that CLOSING needs to happen sooner than XX/XX/XXXX to make sure the report does not lapse. 
3. The inconsistencies with timeline estimations are unacceptable. Had this been a conventional loan, this process would have been clear-cut and straightforward. We are a customer of Chase Bank and are not being treated with the same dignity as someone who is purchasing a home conventionally. The customer service has been hit-or-miss and we can not get in contact with management, nor have we or the buyers been able to receive documentation on a very important financial issue. 

It is unacceptable that Chase Bank would request another XXXX  days on-top of the XXXX day underwriting process estimation due to " market conditions. '' In addition, it is unacceptable that Chase Bank wouldn't have reached out to us or our buyers, the consumers of their product ( that they purchased and agreed to handle ), about this additional XXXX request, without us having reach out to them to begin with. 

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Company response to consumer: Closed with explanation