Complaint / review text:
I wanted to refinance my mortgage at a lower interest rate and spoke with a Chase rep beginning of March 2013.interest rate at that point was 3.87. Perfect! I submitted all the documents they asked for and was given a closing date of April 22,2013. Now it is July and I had to walk away. They pushed my closing dates back several times. Told me not to make my mortgage payments the month we're closing, which I still did, but took the penalty hit for the late payments. I had to re-sign documents and then pay my homeowner's insurance before the due date of June 25 or they would not close the loan. I contacted my current mortgage lender. They cut the check from my escrow account and made the payment. More delays came and they just blamed the underwriters.
When it did come time to close, the paperwork was all wrong. I lost the interest rate because of all the delays. They tacked on several costs at my expense to delay the process and jacked the interest rate up to 4.6%. The promises that were made to me originally were not honored. My rep told me the manager that originally approved things with my loan had quit and the new manager in charge of that department would not honor his promises. It is beyond upsetting that I had to pay the late fees for late payments and I just lost out on the 3.87 interest rate for good because of all the delays.
Clearly, they do not understand what that just cost my family each month in payments in the long run and how to do a simple refinance loan. Disgusted that they wasted my time. If I would have chosen a different lender, I'm sure this would have ended much differently.