Tag: jpmorgan chase

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News: Banks to reduce mortgage balances?

The following is from the Huffington post: The nation’s five largest mortgage firms may be forced to reduce loan balances for distressed homeowners as part of an agreement with state attorneys general and the Obama administration to settle claims of faulty mortgage practices, a top state official involved in the negotiations said Tuesday. The proposal […]

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News: NY Unions Want Chase to Modify Mortgages

The following is from The New York Times: Unions to Press Chase on Modifying Additional Mortgages By CARA BUCKLEY Published: February 9, 2011 Leaders of two large New York City unions said Wednesday that they would push for their pension funds to sell their stocks and bonds in JPMorgan Chase if the bank did not […]

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News: BOA to Resume Foreclosures

It appears, based on the following article, that BOA will be resuming foreclosure proceedings in NY and 22 other states. As we stated earlier, we doubt that foreclosures were ever really halted in NY (see our earlier post on NY foreclosures). Alan Zibel, AP Real Estate Writer WASHINGTON (AP) — The pace of U.S. home […]

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News: Foreclosures to Slow Due to Document Flaws

The following is from a recent New York Times article: The foreclosure machinery that has forced millions of Americans out of their homes is beginning to seize up as some lenders and their lawyers are accused of cutting corners in their pursuit of rapid home repossessions. GMAC and JPMorgan Chase have acknowledged legal missteps, and […]

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