7/20/09:

Thanks for your site. Hoping someone has suggestions for where to proceed. Here is my story.

Credit rating 800, have over 50% equity in house. Currently paying interest only lone, rates dropped last January and WAMU offering 4.875% on large loan, 30 yr fixed. I am a current customer, have re-fied x 2 with WAMU in past...very pleasant and easy.

All docs in by end of Feb. WAMU called and said they did not have my Feb. payment. Funny, they were the only ones who didn't get checks mailed from the batch I mailed. In 21 yrs. of homeowning, never been late or missed a payment. Why would I do so during a re-fi? Ran down to the bank and paid it within the hour. Ended up paying half of the late fee (about $60something) and another $29 to my other bank for stop payment.

After that, didn't hear from anyone for at least 6 wks. Phone loan officer never returned my calls thereafter. Have emails, unanswered also. They charge $875 for application IF you are not approved, loan officer claimed necessary as many people filing for re-fis with many different companies, then go elsewhere, WAMU wasting time and money. Sounded reasonable, figured slam dunk approval.

Couple weeks after lock time up, loan officer suddenly called me back (I hadn't heard from despite 6 wks of emails and calls) saying lock expired but I was approved. Told her I expected them to honor the 4.875% quoted as lock expiration their fault, not mine, I submitted all docs as requested, made calls, wrote emails with no response ;she said I didn't, so told her I would be happy to forward copies of my emails to her. She back tracked, argued, spoke with someone, then told me yes it would be honored at that rate. Nasty attitude to boot, though nice when I did application!

April19th received official approval paper with new loan officer (document preparer) name/phone # who I spoke to once after probably 20 calls to her and supervisor, (half the time voicemail was full so couldn't leave a message). Paper said I needed to request a "pricing package", told her I was requesting it, she said all she needed was to verify my employment. Geez, had been there 23 yrs, no brainer. No calls, no paperwork, nothing from them another 4 wks, many messages left for her and her supervisor.

Mid May walked into a quiet CHASE bank and I was NOT so quiet. Poor gal was sitting in for loan officer on vacation from another branch, she tried to help me, got me phone number for new loan officer as mine had been "reassigned" No luck, phone calls from me to them 2 weeks. After 4 wks, walked back into the bank,spoke with the loan officer, she did try to do emails and calls and one guy she spoke to said I should just reapply. Told her no way, had been approved at that rate, have the papers to prove it, and they needed to honor that; interest rates had gone up. She was very sympathetic.

3 days later get a call from an appraiser wanting to appraise my home for a loan. Couldn't figure that out, have made several calls to WAMU/CHASE and no answers as to why would need appraisal again. Voice mails always full for both new loan officer and her supervisor.

I am stuck there.

I am really ticked....losing money still paying interest only AND rates now up. Plus reading about Chase charging those application fees... I'm determined to see this through to the end!

Is there a "bad faith" law or something consumer wise that I could do? I would be most happy to get the loan as originally intended.....but with all this backpeddling from them and it is a lost cause, I would like some legal action/sanctions for these guys.

Hope you can help with advise...or let this be a warning to others at least. I'm not going to quit until I get a straight answer......they owe me something for being a loyal customer and wasting my time on all this.

7/23/09:

It gets better. Today called, got actual person "Randy" who stated I am one of many, her was in the quality dept (!), all my complaints get recorded; he sent me on to a "Tanya" who verified that my 3rd processor left 2 wks. ago...gave me supervisor "Sarah"'s number and email. Wrong email, and when the answering machine picks up (big surprise) her name is actually Sally. They really can't get things straight!

Tanya did read me a list of things that need to be updated, gave me a fax number. Are you kidding? No way will I send my financial info to what probably is the wrong number, plus has not been officially requested. Their record also states they contacted me on the 15th this month re: the re-fi. I checked my cell and home phones....called all the 800/866 numbers..no call, or messages left. What a scam! It did NOT say on the screen what they called about! Heaven help me!

"Randy" did say they intend to honor all prior rates quoted for people stuck in re finances. I'm pretty torn about trying to see it through (and paying higher interesst every month, nt paying down principle) or just going to another company, points definetly worse though.

Anyway, thanks for your reply. I am also calling the State Bar, they have a free consultation on the phone, hoping they can give me some info.