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Before becoming bank-owned, the property was likely available to buy as a foreclosure sale, but didn’t sell during that process. So, ownership officially transferred to the bank — the final ...
JPMorgan Chase, which held Kelly's mortgage, bought the 11,140-square-foot home for a measly $950,000 -- a far cry from the $5 million that the home was once considered worth, according to NBC ...
JPMorgan Chase & Co. (JPM) will delay foreclosing on some properties in order to review affidavits that were signed by employees who didn't verify related files, making the company at least the ...
During that time, much of the house was renovated and in 2010 was put up for sale at $9.9 million, then reduced to $8.5 million without finding a buyer. [5] [6] After Himmelfarb experienced financial difficulties, JPMorgan Chase Bank took possession of the property in 2014 for $6.5 million through a foreclosure. [4]
This revelation led to increased scrutiny of foreclosure documentation. The practice was apparently common in the mortgage industry. In the weeks following the robo-signing revelation, other large banks came under fire for employing robo-signers as well, including JPMorgan Chase and Bank of America. [14]
The FDIC sold the assets, all deposit accounts, and secured liabilities to JPMorgan Chase, but not unsecured debt or equity obligations. [39] Washington Mutual Savings Bank's closure and receivership is the largest U.S. bank failure in history. [40] Kerry Killinger, the CEO from 1988 to August 2008, had been fired by the board of directors.
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