JPMorgan Bid to Dismiss Mortgage Claims Denied [Foreclosuregate] - MarketTicker Forums


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User Info	JPMorgan Bid to Dismiss Mortgage Claims Denied in forum [Foreclosuregate]
Inez Posts: 360 Incept: 2009-07-08	Quote: NEW YORK: A federal judge rejected JPMorgan Chase & Co's bid to dismiss a lawsuit accusing it of misleading thousands of cash-strapped homeowners nationwide about modifying their mortgages. U.S. District Judge Richard Stearns in Boston on Friday let homeowners pursue claims that the largest U.S. bank systematically failed to keep its end of the bargain after signing up borrowers hoping to modify their mortgages under the federal Home Affordable Modification Program, or HAMP. Stearns also let stand claims that Morgan's Chase unit drove homeowners deeper into debt by prolonging the modification process through "gross ineptitude," sometimes adding fees to loans already in default and starting foreclosures while modifications were being negotiated. Quote: Stearns cited examples from the complaint in which Chase justified some fees with "gibberish" such as "G Speedpay Fee, Corp., Advance Adjustment, Late Charge, Misc. F/C and B/R Expenses, Misc. Corporate Disbursement, and Property Preservation." economictimes.indiatimes.com/news/international-business/jpmorgan-chase-fails-to-end-us-mortgage-modification-lawsuit/articleshow/15287014.cms http://www.bloomberg.com/news/2012-07-30.... Last modified: 2012-07-31 00:45:04 by inez Reason: Link added 2012-07-31 00:43:06 Permalink
Etz Posts: 13888 Incept: 2007-06-26 LA	TRANSLATION: Corrupt Obozo Puppet Fee Holder Douchebag Adjustment Late to B.Frank Homosexual Wedding Charge Misc. J. Dimon Yacht Expenses Misc. SEC Porn Corporate Disbursement Corrupt System Preservation Did I miss any? ---------- Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora. Last modified: 2012-07-31 01:04:47 by etz 2012-07-31 01:03:54 Permalink
Vegasradar Posts: 8648 Incept: 2007-07-11	yeah Etz you missed: Pass Go and Collect 200M in Bonus ---------- Be the change you want to see in the world. ~Mahatma Gandhi 2012-07-31 01:06:26 Permalink