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A JPMorgan Chase employee testified in a deposition that she was one of eight managers who combined to sign some 18,000 documents a month without the personal knowledge the documents claimed they ...
The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank of America, JP Morgan, Wells Fargo, and Citigroup—responded by halting their foreclosure proceedings temporarily in some or all states.
The massive foreclosure machine that revved up to accommodate the huge backlog of mortgage defaults once again is coming to a screeching halt. JPMorgan Chase, one of the nation's largest mortgage ...
On February 9, 2012, it was announced that the five largest mortgage servicers (Ally Financial, Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo) agreed to a settlement with the US Federal Government and 49 states over improper foreclosure practices in the 2010 United States foreclosure crisis, including "robo-signing" (having ...
JPMorgan Chase (JPM) is widening its review of foreclosure documents, CNNMoney said. The bank is already reviewing 56,000 foreclosure documents in 23 states that need a judge to sign off on a ...
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
In response to accusations of document fraud, JPMorgan Chase (JPM) said Wednesday it's expanding its foreclosure review to some 115,000 cases. The review, which involves homeowners in 41 states ...
He concluded that the extent of equity in the home was the key factor in foreclosure, rather than the type of loan, credit worthiness of the borrower, or ability to pay. [77] Number of U.S. residential properties subject to foreclosure actions by quarter (2007–2012) Increasing foreclosure rates increases the inventory of houses offered for sale.