Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5121110
Complaint Overview
Complaint ID: 5121110
Company: Jpmorgan Chase & Co.
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Massachusetts
ZIP Code: 02151
Date Received: 2022-01-18T12:00:00-05:00
Date Sent to Company: 2022-01-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Chase Home XXXX XXXX Tuesday XXXX XX/XX/2022 Around XXXX PM ( ET ) I thought Mortgage Lenders are required to provide Pre-Qualification ( meaning no, or only a soft, credit score pull ) to provide me with a mortgage estimate. I filled out Chase Home XXXX Form with my personal information, past renter 's information, employer 's information, salary, and assets. Then they immediately organized for someone to call me to approve a hard pull of my credit score. The person 's reason is that Pre-Qualification and Pre-Approval is the same thing... But any online search says Pre-Qualification is based on self-disclosure and the Lender 's estimate would only be their best estimate. Therefore not the same as Pre-Approval. How am I supposed to show multiple lenders both for the estimate before the Pre-Approval??? And then get dinged twice on my credit score??? They also said they would need to do a hard credit pull to provide me with an initial Pre-Qualification estimate because they can not see my debt, but it was NOT asked in the form. But if you are pulling my credit, then that is Pre-Approval! Maybe I'm wrong but when you search for the difference in Qualification and Approval... So it just would be great to have an idea from Lenders without dinging my score for the estimate and THEN the approval if I should past the limit while searching for a home. Chase 's website even makes it seem like it is two different things until their get your cellphone...
Frequently Asked Questions
What is Complaint #5121110 about?
Complaint #5121110 was filed against Jpmorgan Chase & Co. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2022-01-18T12:00:00-05:00.
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.