Chase/Wamu and Deutsche Bank - Page 6 - Loan Modification Forum

Outddorsy1 · 11-04-2009, 09:39 PM

Plain and simple....they are greedy.

caldwellb02 · 11-05-2009, 01:34 PM

I sent a letter to Chase today and cc’d it via fax to:

Attorney General Jerry Brown (f) 916-323-5341
U.S. Senator Barbara Boxer (f) 202-224-0454
U.S. Senator Dianne Feinstein (f) 202-228-3954
U.S. Congressman Mike Thompson (f) 707-269-9598
Governor Arnold Schwarzenegger (f) 916-558-3160
Assemblyman Wesley Chesbro (f) 916-319-2101
Office of the Comptroller of the Currency 713-336-4302
President Barack Obama (f) 202-228-4260
Mr. Bruce Marks, CEO, NACA via e-mail bmarks@naca.com

To: Mr. Jamie Dimon, CEO JPMorgan Chase via FAX 212-270-1121
Mr. David Lowman, CEO Home Lending via FAX 314-256-2800

I am a homeowner with mortgages serviced by JPMorgan Chase. I have been attempting to get a loan modification from you for the last ten months, beginning with the submittal of my WaMu request form and documentation on 1/4/09. (See the attachment to this letter)

Sirs, I do qualify for a loan modification. I have a stable job as the director of an nonprofit as I have been for five years. I have lost a source of income that paid ½ of my mortgages, and am underwater in my home. However, I can absolutely and consistently pay the amount recently proposed to you, and even if you didn’t agree with the proposal, as a participating servicer you are required to consider me for other programs (i.e., the waterfall).

I started this process in what I though was plenty of time to come to an agreement with Chase before I was forced into being late by ill-trained and ill-informed Chase employees. I am a mediator at heart, and am not prone to be adversarial. But I am angry, because I trusted Chase, as thousands of others have trusted their banks. I was betrayed. I am not a banker, and cannot fathom the rationale behind the decisions you have made regarding my home. Given Chase’s unwillingness to follow guidelines, I have been looking for help from our leaders, and will continue pressing.

I sent in a QWR on 9/29/09. On 11/3/09 I received your acknowledgement letter. Per RESPA law you are obligated to resolve any issues within 60 days. I do have a predatory loan. I know you were not responsible for the loan origination, but it is in your hands now. I want to stay in this house and stop this stress and this press. To do that I need you to grant me an affordable loan modification. Your offer may cause me not to pursue any issues uncovered in a forensic loan audit.

Change can come from within, or it can be forced in from the outside. I encourage you to be the leaders you can be. I encourage you to be role models through restructuring home loans when we/I need it, just like you were bailed out by the taxpayers when you needed it. (Whether or not you eventually paid this back is of no consequence. You got the money when you needed it.)

I appreciate your response, and look forward to getting a loan modification that allows me and my family to stay in this home and to be your customers for many years to come.

ATTACHMENT: A history of this nightmare with JP Morgan Chase:

From 1/4/09 to 4/20/09 I talked to several Chase employees, including: Marshall, Chamise, Kevin, Angela, Pam, Yolanda, Maureen, Shannon, Angelo, Edward, Sheena, Mark, Jason, Erin, Dionne, Becky, Zelda, and Josephine, from many Chase departments. I faxed and re-faxed dozens of documents over again. Several Chase employees told me to stop paying my mortgage, but I ethically could not do that.
I was working with Penney Davis on the Chase Executive Team, and still getting nowhere (no mod, no refusal, just more requests), when I found out about NACA. I began working with them as well, and they submitted a proposal to Chase on 4/24/09.
Still waiting, and between 4/24 and 8/20, I worked with Penney and more Chase employees, including: Estrella, Rich, Bill, Ali, Frank, Justin, Sue, Nicole, Kevin, Karen, and Octavio, from different departments. I complied with every request made, including one 75-page fax. I kept going back to Penney, because Chase people were losing documents, requesting more documents, confused about my status and quite frankly confused about the process as a whole. Penney at one point in this process told me she was “praying for me.”
I was still paying both mortgages myself, totaling 60% of my gross. I knew I was unable to continue this, so I e-mailed Mr. Dimon for assistance, and in that e-mail I told him I was also with NACA. Not long afterwards Penney Davis told me she was told not to work with me because Chase’s contract with NACA prevented it. This was a complete surprise to me. I never signed away my rights to work with Chase.
I was left with no one at Chase to work on my case, so I made some contacts to NACA. On 9/5 I received a letter from the Chase Imminent Default Team dated 8/13/09 that I was denied because my “hardship was not a permanent situation.” I called NACA and they agreed with me that this was a ridiculous reason. I was left to wait for weeks to get another appointment with NACA to escalate the case. In the meantime I wrote my congressman, my Senators, and the Office of the Comptroller of the Currency.
On 9/15 NACA resubmitted my proposal to Chase. I was unable to pay my September mortgage payments. I heard nothing from Chase but constant collections calls (every day, many times a day till I stopped answering them). Always I was asked to make a payment, and then after conversation they realized I was being looked at for a modification.
On 9/22 I called Chase’s loss mitigation dept. They sent me to the care team who sent me to imminent default. Tim at this department told me he couldn’t understand why there was no recent activity on my account, and asked me to send a number of documents, which I did.
On 9/25 I received a call from Jackie from Chase’s Executive Team. She said she had received a letter from Senator Boxer on my behalf. After finding out I was working with NACA, she closed the file and said she could not work with me.
On 9/29 I received a call from Missing Documents. Per their request, I re-faxed all the documents I sent on 9/22 .
On 9/29 I sent Chase a Qualified Written Request via certified mail. Chase acknowledged receipt of this QWR on October 6.
On 9/30 I called the Missing Documents department at Chase. Lasana told me my case was being looked at by Imminent Default, and I had to refax a number of documents, which I did. I talked with Olig at Imminent Default a few days later, and he confirmed they got my fax and that the case was being sent to underwriting.
On the October 18^th weekend I attended the NACA event in . I spent four hours on Sunday; from 6 a.m. to midnight on Monday, and from 6 a.m. to noon on Tuesday. I finally got to talk with a Chase person, Tracey Peterson around 11 a.m. on that Tuesday morning. She said the only thing holding the proposal up was to run it past the lender, and that I should check the NACA site in 5-10 days.
Two days later the NACA site said I was denied due to “insufficient income,” which, according to the guidelines, is not a legitimate reason in itself to deny my application. I have yet to receive anything from Chase regarding this denial.
On 10/27 Chase had a field negotiator come to my home to check to make sure I was still in this home. Which of course I am.
It is November 5^th, a full 10 months after starting with my initial request for a loan modification. I am now three months late on my mortgage payments. I have yet to receive a modification, or even a trial modification.

caldwellb02 · 11-18-2009, 05:47 PM

Okay - because this is my home thread I am updating here.

This Monday I got a call from Kevin Winn at NACA that my trial mod (HAMP) was approved on Sunday. I am still awaiting paperwork. The question is: did the above fax finally do it? Who knows. I have been working on this so long.

I can say that I do feel as if a door is opening, finally. My gut is not reeling. I know there is much work to be done yet, but I feel like I'm on the light side of the moon. I am now going to learn what it is like to be on a HAMP trial mod, and what it is like to then negotiate my second mortgage. I am ready for this new phase.

Thanks to NACA, and to Kevin Winn and most especially to Moe and all of you for helping me get this far. Now on to the next mountain which from my vantage point today does not seem as high.

wonderland · 11-18-2009, 06:06 PM

Congrats Caldwell! I know you have been waiting for your trial for a very long time!

exhausted girlfriend · 11-18-2009, 07:50 PM

Caldwell,

That was well done. You laid it all out where it was easy to see what you have gone through JUST TO GET on a trial plan. Wow!! I think they should make sure you are complete in 3 months. I will be very curious to see if they give your case priority.

caldwellb02 · 11-18-2009, 08:53 PM

Thanks all. This has been incredible and I know it is not done yet and I know I am by no means the only one going through this. I posted to my thread because I wanted to keep the chronology intact.

Also - I tend to think there was something about that last fax and attachments..... Notice that I faxed, and didn't e-mail. Ya never know though.

I have considered the option of letting this home go and came to an understanding that it might have to happen. but i am thrilled that I have crossed this hurdle. I'm awaiting the docs. I will be on the same timeline as another of our posters, ChaseVictim, so I will be watching his/her (?) progress closely as well.

Mountain life · Yesterday, 12:34 AM

Congrats Caldwell! I am starting my HAMP trial mod with CHASE in December.......let's hope we both get permanent mods in three months!!

zander · Yesterday, 07:31 AM

Congratulations Caldwell02 , It took a lot of hard work and pushing on your part to get where you are now, but the roller coaster ride isn't over yet hold on. I sincerely hope it goes smoother for you than it has for some others. I am inspired by your letter to write one of my own, maybe it will help move things along. I'm getting really anxious about all of this and the only way i keep it together some days is reading here at loan safe and knowing others are going through the same. Thanks to you and others who are willing to share their stories.

11-04-2009, 09:39 PM	#126 (permalink)
Outddorsy1 Member Join Date: Oct 2009 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Plain and simple....they are greedy.

11-05-2009, 01:34 PM	#127 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,764 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	I sent a letter today I sent a letter to Chase today and cc’d it via fax to: Attorney General Jerry Brown (f) 916-323-5341 U.S. Senator Barbara Boxer (f) 202-224-0454 U.S. Senator Dianne Feinstein (f) 202-228-3954 U.S. Congressman Mike Thompson (f) 707-269-9598 Governor Arnold Schwarzenegger (f) 916-558-3160 Assemblyman Wesley Chesbro (f) 916-319-2101 Office of the Comptroller of the Currency 713-336-4302 President Barack Obama (f) 202-228-4260 Mr. Bruce Marks, CEO, NACA via e-mail bmarks@naca.com To: Mr. Jamie Dimon, CEO JPMorgan Chase via FAX 212-270-1121 Mr. David Lowman, CEO Home Lending via FAX 314-256-2800 I am a homeowner with mortgages serviced by JPMorgan Chase. I have been attempting to get a loan modification from you for the last ten months, beginning with the submittal of my WaMu request form and documentation on 1/4/09. (See the attachment to this letter) Sirs, I do qualify for a loan modification. I have a stable job as the director of an nonprofit as I have been for five years. I have lost a source of income that paid ½ of my mortgages, and am underwater in my home. However, I can absolutely and consistently pay the amount recently proposed to you, and even if you didn’t agree with the proposal, as a participating servicer you are required to consider me for other programs (i.e., the waterfall). I started this process in what I though was plenty of time to come to an agreement with Chase before I was forced into being late by ill-trained and ill-informed Chase employees. I am a mediator at heart, and am not prone to be adversarial. But I am angry, because I trusted Chase, as thousands of others have trusted their banks. I was betrayed. I am not a banker, and cannot fathom the rationale behind the decisions you have made regarding my home. Given Chase’s unwillingness to follow guidelines, I have been looking for help from our leaders, and will continue pressing. I sent in a QWR on 9/29/09. On 11/3/09 I received your acknowledgement letter. Per RESPA law you are obligated to resolve any issues within 60 days. I do have a predatory loan. I know you were not responsible for the loan origination, but it is in your hands now. I want to stay in this house and stop this stress and this press. To do that I need you to grant me an affordable loan modification. Your offer may cause me not to pursue any issues uncovered in a forensic loan audit. Change can come from within, or it can be forced in from the outside. I encourage you to be the leaders you can be. I encourage you to be role models through restructuring home loans when we/I need it, just like you were bailed out by the taxpayers when you needed it. (Whether or not you eventually paid this back is of no consequence. You got the money when you needed it.) I appreciate your response, and look forward to getting a loan modification that allows me and my family to stay in this home and to be your customers for many years to come. ATTACHMENT: A history of this nightmare with JP Morgan Chase: From 1/4/09 to 4/20/09 I talked to several Chase employees, including: Marshall, Chamise, Kevin, Angela, Pam, Yolanda, Maureen, Shannon, Angelo, Edward, Sheena, Mark, Jason, Erin, Dionne, Becky, Zelda, and Josephine, from many Chase departments. I faxed and re-faxed dozens of documents over again. Several Chase employees told me to stop paying my mortgage, but I ethically could not do that. I was working with Penney Davis on the Chase Executive Team, and still getting nowhere (no mod, no refusal, just more requests), when I found out about NACA. I began working with them as well, and they submitted a proposal to Chase on 4/24/09. Still waiting, and between 4/24 and 8/20, I worked with Penney and more Chase employees, including: Estrella, Rich, Bill, Ali, Frank, Justin, Sue, Nicole, Kevin, Karen, and Octavio, from different departments. I complied with every request made, including one 75-page fax. I kept going back to Penney, because Chase people were losing documents, requesting more documents, confused about my status and quite frankly confused about the process as a whole. Penney at one point in this process told me she was “praying for me.” I was still paying both mortgages myself, totaling 60% of my gross. I knew I was unable to continue this, so I e-mailed Mr. Dimon for assistance, and in that e-mail I told him I was also with NACA. Not long afterwards Penney Davis told me she was told not to work with me because Chase’s contract with NACA prevented it. This was a complete surprise to me. I never signed away my rights to work with Chase. I was left with no one at Chase to work on my case, so I made some contacts to NACA. On 9/5 I received a letter from the Chase Imminent Default Team dated 8/13/09 that I was denied because my “hardship was not a permanent situation.” I called NACA and they agreed with me that this was a ridiculous reason. I was left to wait for weeks to get another appointment with NACA to escalate the case. In the meantime I wrote my congressman, my Senators, and the Office of the Comptroller of the Currency. On 9/15 NACA resubmitted my proposal to Chase. I was unable to pay my September mortgage payments. I heard nothing from Chase but constant collections calls (every day, many times a day till I stopped answering them). Always I was asked to make a payment, and then after conversation they realized I was being looked at for a modification. On 9/22 I called Chase’s loss mitigation dept. They sent me to the care team who sent me to imminent default. Tim at this department told me he couldn’t understand why there was no recent activity on my account, and asked me to send a number of documents, which I did. On 9/25 I received a call from Jackie from Chase’s Executive Team. She said she had received a letter from Senator Boxer on my behalf. After finding out I was working with NACA, she closed the file and said she could not work with me. *On 9/29 I received a call from Missing Documents. Per their request, I re-faxed all the documents I sent on 9/22 .* *On 9/29 I sent Chase a Qualified Written Request via certified mail. Chase acknowledged receipt of this QWR on October 6.* On 9/30 I called the Missing Documents department at Chase. Lasana told me my case was being looked at by Imminent Default, and I had to refax a number of documents, which I did. I talked with Olig at Imminent Default a few days later, and he confirmed they got my fax and that the case was being sent to underwriting. On the October 18^th weekend I attended the NACA event in . I spent four hours on Sunday; from 6 a.m. to midnight on Monday, and from 6 a.m. to noon on Tuesday. I finally got to talk with a Chase person, Tracey Peterson around 11 a.m. on that Tuesday morning. She said the only thing holding the proposal up was to run it past the lender, and that I should check the NACA site in 5-10 days. Two days later the NACA site said I was denied due to “insufficient income,” which, according to the guidelines, is not a legitimate reason in itself to deny my application. I have yet to receive anything from Chase regarding this denial. *On 10/27 Chase had a field negotiator come to my home to check to make sure I was still in this home. Which of course I am.* It is November 5^th, a full 10 months after starting with my initial request for a loan modification. I am now three months late on my mortgage payments. I have yet to receive a modification, or even a trial modification. __________________ http://www.petition2congress.com/2/2564/

11-18-2009, 05:47 PM	#128 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,764 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Okay - because this is my home thread I am updating here. This Monday I got a call from Kevin Winn at NACA that my trial mod (HAMP) was approved on Sunday. I am still awaiting paperwork. The question is: did the above fax finally do it? Who knows. I have been working on this so long. I can say that I do feel as if a door is opening, finally. My gut is not reeling. I know there is much work to be done yet, but I feel like I'm on the light side of the moon. I am now going to learn what it is like to be on a HAMP trial mod, and what it is like to then negotiate my second mortgage. I am ready for this new phase. Thanks to NACA, and to Kevin Winn and most especially to Moe and all of you for helping me get this far. Now on to the next mountain which from my vantage point today does not seem as high. __________________ http://www.petition2congress.com/2/2564/

11-18-2009, 06:06 PM	#129 (permalink)
wonderland Senior Member Join Date: Oct 2009 Posts: 55 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Congrats Caldwell! I know you have been waiting for your trial for a very long time!

11-18-2009, 07:50 PM	#130 (permalink)
exhausted girlfriend Senior Member Join Date: Oct 2009 Posts: 251 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Caldwell, That was well done. You laid it all out where it was easy to see what you have gone through JUST TO GET on a trial plan. Wow!! I think they should make sure you are complete in 3 months. I will be very curious to see if they give your case priority.

11-18-2009, 08:53 PM	#131 (permalink)
caldwellb02 Senior Member Join Date: Nov 2008 Location: Northern CA Posts: 1,764 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Thanks all. This has been incredible and I know it is not done yet and I know I am by no means the only one going through this. I posted to my thread because I wanted to keep the chronology intact. Also - I tend to think there was something about that last fax and attachments..... Notice that I faxed, and didn't e-mail. Ya never know though. I have considered the option of letting this home go and came to an understanding that it might have to happen. but i am thrilled that I have crossed this hurdle. I'm awaiting the docs. I will be on the same timeline as another of our posters, ChaseVictim, so I will be watching his/her (?) progress closely as well. __________________ http://www.petition2congress.com/2/2564/

Yesterday, 12:34 AM	#132 (permalink)
Mountain life Senior Member Join Date: Jul 2009 Location: Southern California Posts: 106 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Congrats Caldwell! I am starting my HAMP trial mod with CHASE in December.......let's hope we both get permanent mods in three months!!

Yesterday, 07:31 AM	#133 (permalink)
zander Senior Member Join Date: Nov 2009 Posts: 59 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Chase/Wamu and Deutsche Bank Congratulations Caldwell02 , It took a lot of hard work and pushing on your part to get where you are now, but the roller coaster ride isn't over yet hold on. I sincerely hope it goes smoother for you than it has for some others. I am inspired by your letter to write one of my own, maybe it will help move things along. I'm getting really anxious about all of this and the only way i keep it together some days is reading here at loan safe and knowing others are going through the same. Thanks to you and others who are willing to share their stories.

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