Mortgage -- Closing on a mortgage -- Complaint #4987594
Complaint Overview
Complaint ID: 4987594
Company: Jpmorgan Chase & Co.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: Tennessee
ZIP Code: 38117
Date Received: 2021-12-07T12:00:00-05:00
Date Sent to Company: 2021-12-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
To whom it may concern, My name is XXXX XXXX and my wife and I applied for a mortgage with Chase Bank to buy an investment property. We were given a pre-approval letter and we assumed that we were ready to start looking. Our real estate agent helped us locate, make an offer, and get a contract on a property at XXXX XXXX XXXX XXXX, TN. On XX/XX/2021 we received an email from one of your employees claiming that we were ready to close and a closing date was set up. We then began making accommodations and ordering inspections on the property assuming we had the funding. We attempted to contact the agent XXXX on XX/XX/XXXX, we didnt receive any response. On Monday XX/XX/XXXX we then found out he was on vacation. At that point we where informed that the person who was in charge of our file while he was out was also on vacation. We finally got in touch with their supervisor XXXX XXXX and discovered that we did not have sufficient documentation to close on the property. Now we are being told that there is a ninety-eight percent chance that our loan will be declined, due to being self-employed. I feel as though Chase Bank has mislead us into thinking we could do something we apparently could not do. Now we have not only wasted our own time, but we have also wasted our personal real estate agents time, the sellers agents time, and the sellers time because his house couldve been on the market this entire time. We have also wasted thousands of dollars with inspections and furniture purchases for this property. I feel that we have been abused by Chase Bank because of the ineptitude of their employee. The supervisor even went as far as to say he felt we could afford the property but for whatever reason it seems we will be denied the loan. No one has apologized for the inconvenience this has caused not only myself or the other people in this transaction. I expect for Chase to follow through on your commitment for funding that your company initially offered, and I am asking the Banking Commissioners for both the state of Tennessee and Florida to investigate the matter. Please feel free to contact me by email at XXXX or by phone XXXX. Sincerely, XXXX XXXX XXXX.
Frequently Asked Questions
What is Complaint #4987594 about?
Complaint #4987594 was filed against Jpmorgan Chase & Co. regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2021-12-07T12:00:00-05:00.
How did Jpmorgan Chase & Co. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.