JP Morgan Chase Bank Does NOT Help Veterans With VA Loans Like They Could

The purpose of this article is not to trash on Chase or JP Morgan but I have got to tell you that when I see a Reuters headline “JP Morgan underwrites securities tied to VA loans” it makes me feel like the media is misleading our veteran home buyers yet again.

In the wake of the mortgage meltdown JP Morgan Chase exited the TPO or brokered loans portal and decided almost over night that they would not even honor locked in TPO loans for veterans.  I personally had to disappoint numerous military families with this bad news and quickly become the bad guy!

I think all vets, military families, etc should keep in mind that JP Morgan Chase did NOT have veterans and VA loans in their interest a couple of years ago when it was needed the most!

Sincerely,

A frustrated VA loan officer

6 thoughts on “JP Morgan Chase Bank Does NOT Help Veterans With VA Loans Like They Could

  1. I see you are a VA Loan Officer. I am a Realtor in Texas and I want to be certified by the VA as a Realtor for the Veterans. Do you know how I can accomplish this. I have been looking at every link on the VLB and VA Mortgage web sites. I would truly appreciate your assistance. I wan to work to help as many Veterans as I can realizing the benefits and joy of owning their own home.

    Thank you so much

    Judi

  2. Judi, I dont think you need to be approved or certified by the VA and would love to talk to you about working with us. We do a ton of business in Texas. Call me, I am the branch manager here and my name is Eric Kandell, 801-341-7023 or email me at eric at low va rates dot com

  3. Here’s a better one….I am a veteran living in NYC.
    Because of the higher prices, I can get a loan for $775,000 for a single family home
    but only $417,000 for a multi-family unit. If anyone knows NYC, a one bedroom apartment costs about $425,000 and what veteran can afford a mortgage on a $775,000 home? Basically, the $417k multi family is non existent and the $775, single family is not affordable. Awesome!
    Veterans United home Loans is useless if you live in any major city.

  4. I could not agree more with each of the above statements. I am a veteran, who is going with a VA loan, and am already almost 2 weeks beyond my projected closing date, because Chase forgot to file the appraisal paperwork on time. Now, I have a “projected” closing date in 2 days, and do not even know how much I should be bringing with me to closing. An estimate looks to be several thousand more than what I should have had to bring with me based upon the amount I agreed to put down. Good thing I have been saving for the whole time. This will definitely be the last time I go with Chase for my loan.

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