Chase diligently and profitably collected the payments directly from each mortgage payment she sent, and after her death, from each payment I made on behalf of the trust. She had confirmed numerous times with her “Chase Personal Advisor” that the coverages were correct and in place…and only weeks before her death, he took unfair and self-serving advantage of that trust and confidence and he persuaded her to roll-over hundreds of common shares in a self-directed IRA from an institution that handles Totten Trusts in its’ agreements to Chase, which does not…the former custodian would have disbursed the shares to her heirs per her will….Chase insisted the shares had to be sold, and the funds distributed, causing the heirs to pay thousands of dollars in unnecessary and wasteful income taxes! NASD basically ignored attempts to grieve about this! So much for industry guardians!

So, after mom dies, what happened? I paid the mortgage, and tried to have statements mailed to me and the other beneficiaries and heirs but was told I was an unknown person, despite presenting my durable power of attorney and letter of domicillary per our state’s laws…I faxed, and sent these and the trust instrument by certified mail seven times to some address in Columbus, OH….to the attention of their Trust Counsel…the phone reps and bank personnel could never find them! I could never get any cooperation in any service matters from this company. They are by definition, an evil organization!

So, they cashed the mortgage checks, converted the payments into deposits into Chase’s general account, but failed to credit our Trust’s mortgage account.
As court records later showed, they made numerous unsuccessful attempts to foreclose on the properties, beginning only two weeks after mom died. They steadfastly refused to tell me what the extra charges were that were cryptically described as “optional Coverages” on the trust mortgage statements. They rebuffed my attorney, too.

We ran into financial difficulty three and one half years later, then, after being sixty days late with a payment, were served with foreclosure documents. We sold thirty days later at a price slightly below what was paid originally for the investment property, and at about seventy percent of comparables for the property that secured the loan….I feel they are culpable in the matter, they agreed to refund about half of the money wasted on this ricdiulous PC Coverage as :unearned premium.” The other coverage is being totally ignored by them. And they are turning the matter of mortgage insurance around on us, saying the burden of proof is on us. I will never do business with this group, and advise all whom I know that they do so at their peril, based on our experiences. Will we ever get justice, at least adequate reimbursement fo rth epain, suffering , financial losses, and insecurity? I am open to joining a class action, fyi