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Chase Home Finance / customer rip off - fax fee payoff quote

1 TX, United States Review updated:

I have a mortgage loan from Chase Home Finance for about 1 year. I am in the process of refinancing through Bank of America. Now Chase decides to charge me the consumer for the pay off quote the new bank wants from them. Apparently the policy of Chase is to charge the customer $30 each time a 3rd party requests a Pay Off Quote. The catch is that when the
3rd party calls for a pay off quote, the only option is to enter a FAX number .
The bean counters in the new bank want to be absolutely certain of the pay off quote, so they
request this three times. And I am stuck with the bill for $90 . This is certainly a reward for not missing a single payment and always being on time.
Life is truly rewarding for being right! Meanwhile, I nominate the MBA wizard at Chase Home Finance for whipping up this FAX fee idea along with the Phone Tree for the pay off quote ( they should call it the money tree) where the option for the 3rd party is a FAX.

We consumers are really getting ripped off by the Bankers. First our Tax Dollars are used to bail them out and we still end up with those tacked up charges. Meanwhile the Corrupt Executives are laughing all the way to an offshore bank account!

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Comments

  • Gr
      25th of May, 2009
    0 Votes

    I hate Chase, but to be fair, your new bank is imposing on them by asking for the payoff letter three times (unless Chase failed to send it the first two times they were asked, which wouldn'surprise me a bit). If I were you, I'd write to my new lender saying that it should not have been necessary for them to make this request more than once and cause you to have to pay three times for it, and suggest that they should reimburse you $60 for the second and third charges. Maybe they'll tell you they never got a response to their 1st & 2d request. Then you will have stronger grounds to seek your refund from Chase.

  • Ve
      3rd of Jun, 2009
    0 Votes

    Chase sucks! They also charge me $30 Pay-off quote fax fee

  • Tr
      18th of Jul, 2009
    0 Votes

    It's in the schedule of fees so if you read the schedule you shouldn't have been surprised. However, I do agree, it is greedy. VERY. It's worth it to be done with them though.

  • Ji
      27th of Aug, 2010
    0 Votes

    I got hit with the same $30 fee. I questioned it over and over..."$30 Dollars...for a FAX????" I'm so glad to be rid of them.

  • He
      17th of Sep, 2010
    0 Votes

    I am glad you wrote this article so that everyone can read about their bad policies. I got hit 4 times with the $30 fax fee paying now $120 for a pay off statement. That seems criminal. I am thinking of reporting Chase to the better business bureau.

  • Ih
      21st of Oct, 2010
    0 Votes

    The fee is listed on the statement, but now where on my loan documents does it state this fee will be imposed at my closing. I was directed to the State Atty office after I try that I'm taking them to small claims court.

  • Ch
      23rd of Jun, 2011
    0 Votes

    Chase charges $30 just to make a fax. Period. That is gauging plain and simple.

  • Ch
      23rd of Jun, 2011
    0 Votes

    Chase charges customers $30 just to make a fax. Period. This is gouging. There is no justification or excuse. Customers have no choice but to pay the gouge fee. Chase will not allow attorneys to request payoff quotes at closing like nearly every other mortgage company does. Chase gouges. That is what it thinks of its customers.

  • Wh
      7th of Oct, 2011
    0 Votes

    Chase sucks! Just got that fee as well. If we assume that this is fully automated, and that a human does not have to intervene it probably tied up the fax line for 30 seconds, assuming it is a one page fax. That being said, that would work out to $3600 per hour. Or if we assume someone had to do something, perhaps it took 5 minutes - which would be $360 per hour. Wouldn't feel so ripped off, if they actually spent that money to hire more people, but you know this is the cherry on the whipped topping of some bank executives cake. Sorry for the rant - anyone from Chase care to address this???

  • Ja
      6th of Dec, 2011
    0 Votes

    Today, December 6th. I went in Chase Bank in Utica Square, Tulsa OK, and requested a payoff. The personal banker told me there was no fee. I then see a $60 fascimile fee on my payoff. He called someome to verify. Then I was told that I called in and requested this 2 times in October and was told then I would be charged $30. This is not accurate at all. I am so mad. This is why I am changing banks. They have alot of hidden fees that you are not aware of until you ask for it in writing. Payoff, so forth. I am afraid to call and ask a question over the phone, they may charge me $20 to do that as well. Needless to say, Chase Bank in Tulsa OK is the worst bank I have ever ever been with. We are changing everything we have with them to another bank. Honesty is a big thing with me, and when you try to hide things just to make the almight dollar. I don't agree with that at all.

  • Ja
      6th of Dec, 2011
    0 Votes

    Oh and also, I asked the personal banker, Corlin to call me when he verified who authorized these charges. He said he would find out and call me. Did he call? NO
    Then I called the district manager of the Tulsa Branches, and was told she has a cell phone and will be contacting me from it. They would not give me her number, nor did she return
    my call. Thanks again Chase for your lies. I may be contacting the BBB and our governor on this issue.

  • Ja
      6th of Dec, 2011
    0 Votes

    The district manager of Tulsa is Michelle.

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