I filed for a refinance at the end of Oct 2016 and locked in a 90 date rate at 3.75%. I submitted my documents and papers. I am a private client and have a significant amount of cash in that account. I ran into a problem with the property which was out of litigation where a settlement was reached. The problem is the bank was not allowing the refinance to go through because the property (condo) has some defects which are scheduled to be resolved. Other units have refinanced without issues from other banks, but Chase for whatever reason kept asking for more documentation. I submitted such documents that showed the defects were in the common areas only, but still 80 days later they are still asking for more documentation. I had a rate at 3.65% from union but decided to go with Chase because I have an account with them but they pretty much screwed me. I mentioned all of this upfront and now I can't refinance at a lower rate. The current rate is 4.25%.
Thank you chase for wasting my time and money. I will be pulling my cash and investments and going to a credit union where I can actually talk with people and not get stuck in department to department miscommunication hell.