One of the benefits of working in foreclosure defense is that I get to have enough dealings with banks to spot patterns and trends. It also gives me enough dealings to be able to identify with most people’s anecdotes about their problems with their lender or servicer. While frustrating, I’ve gotten used to delays and the fumbling of paperwork on the banks’ end, and my firm and I work through it. But every once in a while, something happens that causes even my jaw to drop.
On this particular instance, the offender was Chase. We are working on behalf of our client to obtain a loan modification and have send application materials to Chase–3 times. We are always very careful to document the submission of materials, and we had fax confirmations for each of the three submissions. When we called to follow up on the status of the modification, we were informed that Chase did not have the application materials. Which we had sent (and confirmed) several weeks ago. So, Chase informed us, the file was going to be closed because of a lack of documentation.
Um, no. That’s not going to happen.
After “politely informing” Chase of the error of their ways, they magically found our client’s modification application in their system. Now, we know better than to take them at their word when it comes to dealing with mortgages (and this isn’t unique to Chase–we take this approach with all lenders). In this particular instance, our client was on the verge of an adverse decision because Chase couldn’t even recognize the materials that were in their own system. It made my heart go out to every homeowner who is trying to do this on their own. It also reminded me of the famous speak by Winston Churchill given during World War II, which is quite applicable in dealing with the big banks:
“Never give in. Never give in. Never, never, never, never—in nothing, great or small, large or petty—never give in, except to convictions of honor and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy.”