Chase Mortgage - Tell Us Your Chase StoryChase Mortgage and Chase Home Finance are and were huge lenders. We are getting a lot of traffic from people looking for help with their adjustable rate loans. This section will help you deal with this corporate giant where people are starting to get lost in their loss mitigation system.
This is a discussion on Update at Chase within the Chase Mortgage - Tell Us Your Chase Story forums, part of the Mortgage Advice category; I finally got in touch with my contact at Chase that has been the most helpful and here is some ...
I finally got in touch with my contact at Chase that has been the most helpful and here is some updated info.
-Treasury HAS been auditing all perm mods before they go for docs generation
to verify guidelines are being followed, numbers etc.
-Treasury has a goal of 90,000 audits every 60 days, they have fallen behind
because of the volume
-each rep (negotiator?) in Loss Mit has 350 files to follow and update info at
any one time
The guy I talk to said he was in only a half day yesterday and fielded a dozen calls on docs and terms clarification for borrowers, he also said there were a lot of perm mods released this week and many more to come.
He escalated mine again to a supervisor, he noted that it had been 40 days since 'preliminary' approval was received on my file. Since he hadn't heard from me (not like I haven't tried) he thought I had already received the docs, our file is not one of his 350 but he follows mine since we've talked so frequently. He did not see terms yet on his screen.
I actually had a very nice lady from chase call me and my wife at least 6 times since last friday. She even said why she was calling. She wanted to know how often we were paid. So I decided with nothing to loose, call her up. She asked very nicely how often we were paid and then she said we should know the final mod numbers in two weeks. Ok I figured I will go along and see what happens...
Chased- That is interesting. What number did they call from? I've gotten a few from the collections number (missed them, damn *rolling eyes*) but when I call back they seem confused (go figure) and just mention that I've already contacted Chase that day (I call Chase everyday).
It does seem that they are trying to contact more people more frequently.
Could you tell me who you would suggest I contact to escalate my file? I have made 8 trial payments, was verbally denied for insufficient income on 1/15/2010, told to re-submit new P&L and bank statements, which I did...now I seem completely lost in the shuffle. When I call, it appears like there is NO movement. Even the HOPe Counselor said it doesn't appear that they are working on your file...just sitting...strategically I think. I stopped making trial payments this month..figure that might get some attention...I don't know.
I have never gotten a call from anyone...not once.
Cliff- Have you tried the Executive Resolution Team? I got a call from Angie last week but nothing since then...
A number that I have found useful is 1-877-290-7342 ext 30939, I usually talk to Don or Tony, if you get a woman, hang up and try again. These two guys are the only ones who actually got anything done. Don escalated it on Dec 28 to the SWAT team after we received an erroneous foreclosure letter. He had told me then it was an error and he would fix it...and he did, within a day it was suspended.
I talked to Tony this morning after not getting him for a week and he escalated my file again (it hasn't been done for a month) to his supervisor because he admitted that 11 trial payments is just ridiculous. He is the one who told me (he actually IM'd the underwriter when he was talking to me and then told me EXACTLY what the underwriter responded) that we had been approved on Dec 31 for a permanent mod. Today he told me that we are just waiting for doc generation but he wanted to know where we were in the system, he told me to call him on Thursday and hopefully he'll have an answer by then.
Good luck and keep trying. None of the women I talked to at that number were in any way helpful, Don and Tony have been great.
I called and got Tony. You are right..he is a real person, not a robot, who thinks and is helpful. Unfortunately, my file does not show up in his system...meaning I have a previously WAMU owned loan, that has not transferred over to Chase as of yet in their system. This was actually new information. I guess all of the other numbers I have been calling, that are completely useless, do have my file.
When I called the Executive Resolution # that Don gave me...they said....what do you want? You were verbally denied...are you looking for a denial in writing or what? I said no, I want a reconsideration based on inaccurate data. She said that means you have to start over from square one and it will be 6-9 months for an approval. I think that falling to the bottom of the pile is what I am experiencing.
My issue is that I included Self Employment Tax on our P&L, when, in fact, we do not end up paying any...we have sufficient write-off. I did this because of a P&L template I was instructed to use, included this. I believe this lowered our income by $1200/month....but really not sure, because I have no idea what figures they used.
Haven't I heard of others who were reconsidered without having to go back to square one?
Thanks again for help and for listening.
CLiff
At this point, I am going to put my case in writing and fax it to Executive Resolution, and hope and pray that I can get an analyst that will help me.
There is a problem with Wamu-owned, BofA trustee loans...like a rotten batch or something!!
I hope this is the end for you and you finally receive your permanent modification docs...mine has not updated yet since we signed the docs nor have I gotten a copy back in the mail yet...I talked to executive res yesterday was told to give it another week
Cliff- I'm glad you at least got a hold of Tony or Don. It may not be the info you were hoping for, but at least you kinda know where you stand. And, the Exec Res team person is right, I was told the same thing about it taking 6-9 months to get to review.
It does seem that ANYONE with a P & L statement is having a really hard time, more so than the rest of us, but DON'T GIVE UP. If you have to start over, that is a decision you will have to make based on your situation. The only thing I would worry about is the fees and shortages that add up while on the trial. IF you get final approval, then its not an issue, if not...it will be a chunk of change to come up with if you want to keep the house.
lite- Me too, I am waiting for my husband to get home, he checked the mail this morning and said there were 2 letters from Chase, but he didn't want to open them until he got home in case it was crappy news (although I did talk to my contact Tony and he reassured me that there was no bad news coming that he could see). He was up on a roof today with a snow blower and didn't want to be distracted.
Mine loan was pre-approved for permanent since Dec. Today got a collection call and they told me it will be another 2 weeks since QA department has to deal with foreclosure first and we are paying on time have to wait until they can catch up. I think a lot of us in the same boast as me.
The letter was a "Your Modification Is At Risk" again, I just sent all updated docs last week, I'll send them again, and again, I'm sure. The other letter was "Please take advantage of our 'Fast Pay' offer, meanwhile the first letter told me to continue making the trial mod payments the same way I have been making them...through Western Union.
msnderstood- So Don and Tony will talk to you even though you have a contact assigned to you at the Executive team? I am asking because the last time (beginning of January) I tried to call and check on my status I was told I had to talk to the person assigned to me by the executive team and they said they would have my person contact me. I would love to have another person to ask since all I get is the same old "it's with underwriting" answer.
Chased- That is interesting. What number did they call from? I've gotten a few from the collections number (missed them, damn *rolling eyes*) but when I call back they seem confused (go figure) and just mention that I've already contacted Chase that day (I call Chase everyday).
Here is the number she called me from, she said that she was just assigned our account and is working on it to get it done:
(866) 374-8898
When I first called back the automated service said, "we will use anything you say against you in the court of law", well actually it said any info they get from you can be used to collect a debt. I know its what they have to say in order to keep them from being sued. When I heard this I hung up. But she continued to call so I decided, WTH I will give her a chance...
rc- I don't have anyone assigned to us yet, I have never received that call from ERT, just from the person who intercepted the email I sent to Jamie Dimon. They were supposed to call by last Friday but have not. The email I received said to give them 7-10 business days, I sent the email last Monday, the 1st.
Chased- The number I was getting calls from was the collection number that ended in 7916 (I can't remember the rest, I deleted it from the Caller ID)
Update- Interesting information for those in 'audit' status...I just spoke with my contact and he told me that once a file goes into 'audit' it means that Treasury is reviewing the permanent mod, the next step is to go to the Docs area where the final docs will be generated. He told me that this is the final step, he was contacting his supervisor to find out where our file was in the queue so they can get our docs out to us ASAP. He did not have the terms available on his screen, although he said he could see the underwriter's worksheets (NPV?) but he didn't understand the numbers and calculations enough to give me terms.
Hope this is near the end of the line for us, but I won't hold my breath, maybe this info helps others in the same status.
Well for me it looks like I will still have to fight with chase....I sent in our 1st modified payment that was due feb 1 and I see online they put it in the suspense portion of our acccount a few days later I check it again and they took the funds out of the suspense portion and made a mortgage payment except they made the old mortgage payment BEFORE modification the account has not been updated what so ever
lite- For crying out loud, they can't even get the permanent mod stuff straight. I have been getting phone calls almost daily from the collections number, but they are telling me I have to submit my whole package again (4th time)!!!! When I told this to my contact, his response was, "oh that will just screw everything up, what are they doing?"
Go figure, Chase screwing something up?
Right.
I am sure even when we are done with this nightmare, there will be more days like you are having, lite. It ain't over, even when its over.
Update- I called my contact again today because of the homeowners insurance thing and he mentioned that our file was escalated today to the underwriting supervisor to get it out to Docs and finalized...I also asked him about Treasury still being on the premises, he said he wasn't sure because he doesn't see them (they come into the building by a separate entrance).
I will call him back on Tuesday or he will call me if anything gets done over the weekend. He also said he had no problems helping others if they want to call him, he will do whatever he can. If anyone wants his number let me know on this post.
I used that number with the ext. you provided msndstood transfered because I was originally WaMu but even the number that i was transfered to was more helpful than the ones I had been using, Thanks. Gonna try to get more info today. I want details and timelines damit!!
Zander- I mentioned to Tony that I had given the number to a few people and he was fine with it, he really does want to help everyone as much as he can, he's a great guy.
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