Well, it's been a month since last we visited the train-wreck that is JPM Chase and their home mortgage business. Today, in reviewing cash flows, Wells Fargo showed a full deduction for mortgage payment in line with the direct draft we had set up through Chase's website.
So I go over to Chase and log in to make sure that the correct moneys had been applied against principal and interest, since they fucked (purposely screwed) up so royally last time. Lo, Chase only reflected the base payment and did not reflect the overage we had set up THROUGH THEIR GODDAMN WEBSITE against principal.
Quiz: If my monthly mortgage payment is 1600 (principal and interest inclusive) and I set up payment of 1750 with the added 150 going directly against principal how should monthly payment be recognized on online statements?
Chase's Answer: Show 1600 and claim that their system is not setup to indicate principal reduction.
Real World: A statement is a motherfucking receipt. If it says a goddamn payment has been received, it had better show the total deduction that came from the other account.
I have an idea how JPM Chase is trying to make interest by holding overage back until the last day of the month as a way to gain small interest on the difference and there's a real problem with it.