JPMorgan Chase Bank, TOWNE CENTER BRANCH

Not Pleased at All
Overall Rating
Interest Rate and Cost
Office Environment & Staff
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by DrPunkin, Dec. 11, 2013

I have been banking with Chase Bank for years and with the Town Center location since October 2013 in an attempt to refinance my rental property in Baker, a suburb of Baton  Rouge, Louisiana.  I have a checking account, savings account, investment account, home loan (which is now rental property), and an education fund with them.  In an effort to minimize my interest rate and reduce my income to debt ratio in anticipation of buying a second home in the state I now live in, I attempted to refinance my home in Louisiana.  The process started off painlessly.  The mortgage banker was so helpful and promising, and was very much accessible.  However, after the file was transferred to the loan processing office in Houston, Texas and the loan officer indicated issues with my income to debt ratio (which I thought were resolved), the accessibility went from 10 to 2 with 10 being very accessible and 1 being rarely accessible.  During this aspect of processing my loan, accessibility was limited with both the mortgage banker (in Baton Rouge, Louisiana) and the loan processor (in Houston, TX).  The mortgage banker told me on several occasions she would call me back to no avail.  One such example is that I had to contact her on three different occasions to get a good faith effort after she informed me that Chase Bank would meet any good faith effort. The loan processor was even worse.  I contacted her the day before Thanksgiving after receiving an email she sent on the same day requesting some document/information needed.  I emailed her back asking her if in the future, she would please call me if she needed additional information or documentation (as my loan was time sensitive due to the pending closing date on the new home I'm trying to purchase).  After not receiving a response to my email, I called and left a message for the loan officer asking her to call me back.  After not receiving a reply to either email or phone call, I contacted the loan officer again leaving a message indicating that this was the 2nd message I was leaving and I expected to have my calls returned.  I attempted to contact the loan office for the second time (on the Tuesday following Thanksgiving).  The loan officer didn't return my call until Friday, December 6th.  When she returned my call, she tried to deny responsibility for not calling me back indicating that my mortgage banker should be the one informing me that my loan to refinance my home was denied because of my income to debt ratio.  Mind you that I only have 3 debts- a home in which I owe less than $50,000, a car in which I may owe $23,000, and a Chase credit card on which I have a balance of approximately $4,000.  

Upon hearing this news on Friday, I immediately called my mortgage banker who neglected to answer my phone call but sent me a text indicating she was at the hospital and she would call me back.  She never returned my call but instead sent me a text Monday morning indicating she would be looking at my file.  In attempt to get some answer, I left Houston, Texas Sunday afternoon so I could be at the bank when it opened Monday morning.  After meeting the mortgage banker, she let me talk to a lending manager (via phone call) who assured me she would look into file and call me later with an update because she couldn't understand why they denied me.  She indicated she was out in the field but would be in the office later that day.  The lending manager did call later that day around 5 p.m. indicating that the loan officer's number was way off and she would make contact with someone first thing Tuesday morning to follow up.  After not hearing from her all day, I contacted her Tuesday, December 10th at approximately 4:45 p.m. asking for an update.  She began to tell me that the processing department was counting my $1,400 rent that I currently pay was being counting as a debt (even though the lease for my apartment ends December 31, 2013 at which I will not be renewing.  When asked if she didn't think she should have called me and informed me of such, she indicated she was in the field as an explanation as to why she hadn't called.  Being in the field in my opinion is not an excuse for unprofessionalism and not following up.  She was in the field when I spoke with her for the first time yesterday, December 9th.   The lending manager and the mortgage banker were both aware that my case was time sensitive as again I am trying to purchase a home in Houston, Texas.  Despite having that knowledge, all Chase Bank employees inclusive of the loan processor neglected to communicate effectively among themselves and with me.  The end result, I am having to scramble to find someone to refinance my rental property as I was relying on the finalization of that to purchase the home in Houston, Texas (I was taking money out of my equity).  In addition, I am very disappointed in how they handled my case.  I guess I expected better treatment from Chase considering I have been with them for at least 10 years if not more.  After this process has been finalized, I will be removing my funds from Chase and will no longer patronize this establishment.  I can take my pennies elsewhere.      

* this reviewer has be with this bank for 3 - 10 years
* this reviewer had 3 - 5 banks before.
* this review was made on JPMorgan Chase Bank, Towne Center Branch at Baton Rouge, LA
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