I have been "in process" or refinancing my home with Chase Mortgage for about 6 months now. During that time, I have experienced nothing but grief caused by their utter incompetence. They have requested 5 duplicates of my financial records, lost much of my information, and never actually allowed me to talk to a single person that actually knew enough to answer any of my questions.
Every month that they delayed my loan, they requested updated financial information. I complained each time becuase I was very afraid of identity theft. This is especially true when the person on the other end of the line has no record of me even sending my information the first 5 times. When they finally got to the point that they said I could close, they socked me with a bunch of extensions that added points to my refinance. They wanted over 8K to close.
The appraisal was done which devalued my home well below market value and they required mortgage insurance. To this day I could never get an answer out of them what that would cost. Not that I would ever do this anyway. I would never even consider owning a house that I couldn't put enough money towards to not require mortgage insurance.
After I finally got sick enough of all this, I told them to just cancel the whole thing. Well guess what, they couldn't refund the $400 app fee because it was against their policy. I was basically charged $400 for 6 months of frustration caused by their incompetence. As a bonus, I also have a fear that someone withing their obviously screwed up business is doing something with my personal info.
My message to all: Stay as far away from these folks. They use the Chase name which I always considered to be a sound name in the financial world to scam the honest and hard working folks of this country. What an absolute shame. If I can figure out what to do about it, I'll be all over it.
Product or Service Mentioned: Chase Bank Mortgage.
Monetary Loss: $400.