JP Morgan Chase Mortgage – Delayed Delayed Delayed APPROVED then Declined just 24 hours prior to closing and Buyers lost their EMD. EMD JP Morgan Chase said was safe because as soon as the additional funds were in the account they would be “Clear to Close” and in fact this week the buyers received a congratulatory letter from JP Morgan Chase on their mortgage approval only to Decline their approval 2 days later, 24 hours prior to closing. JP Morgan Chase just screwed my customer after extending the closing date twice because of their failure to communicate between underwriting and the loan originator and my customer. This was a simple transaction, second home, 20% down with their customer who has an existing commercial lending relationship with them. This was supposed to be easy and it wasn’t. Even after my repeated attempts to contact the loan originator Angela Rogers and her manager Jennifer Lombardi to get to the bottom of this ordeal I only 2 returned calls from the loan originator not one from her manager. I’ve sold real estate along the Destin 30A Florida Gulf Coast since 1995 and have closed over 400 transactions and never have I experienced a more irresponsible group of lenders. The most recent call I received from Angela Rogers, I was told that once the buyers transferred additional funds from the wife’s retirement account into the husband’s account, as required by underwriting reserves requirement for this “Investment” transaction, which really should have been a second home transaction, they would be clear to close, the buyers received the letter of approval from JP Morgan Chase and two days later received a phone call from Angela Rogers that they were now DECLINED. My opinion is that if you are considering any kind of financing through JP Morgan Chase that you reconsider your options.