CFPB secures $27.7 million judgment against foreclosure relief scammers

The next president needs to speak up about housing right now

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CFPB, DOJ take action against Provident Funding for discriminatory lending

Could pay $9 million in damages
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Items Tagged with 'JPMorgan Chase'

ARTICLES

JPMorgan Chase reportedly laying off 5,000 employees

Cuts would represent at least 2% of bank’s staff
Ben Lane
JPMorgan Chase is set to lay off approximately 5,000 of its employees as part of cost-cutting measures. The job cuts reportedly already began earlier this year and would represent at least 2% of the bank’s staff.
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JPMorgan Chase mortgage banking income more than doubles in Q1

Reports $194 million increase over 2014
Ben Lane
JPMorgan Chase saw a sharp increase in net income derived from mortgage banking in the first quarter, with income rising to $326 million from $132 million in the first quarter of 2014.
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JPMorgan over half way done in $4B consumer relief requirement

Progress on the $13 billion settlement
Brena Swanson
In the latest update on JPMorgan's $13 billion mortgage settlement, the mega bank is finally over halfway done fulfilling the $2 billion of consumer relief it has give by the end of 2017.
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JPMorgan’s Dimon to Sen. Warren: Hit me with a fine. We can afford it

New afterword from Warren’s book reveals tense exchange
Ben Lane
It’s probably safe to say that of all the elected officials that walk the halls on Capitol Hill, Sen. Elizabeth Warren isn’t Wall Street’s favorite, but a newly released excerpt from Warren’s book “A Fighting Chance,” shows just how tense her interactions with Wall Street’s bigwigs can be.
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Judge tosses mortgage bond lawsuit seeking overturn of massive JPMorgan settlement

Nonprofit Better Markets challenged DOJ’s authority
Ben Lane
A lawsuit brought by a nonprofit against the U.S. Department of Justice over its $13 billion toxic mortgage settlement with JPMorgan Chase is no more, after a federal judge ruled that the group lacked standing in the case.
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JPMorgan to buy $45B in Ocwen MSRs

Ocwen continues to quietly exit servicing
Brena Swanson
At the end of last year, Ocwen CEO Ron Faris said the company planned to exit agency servicing entirely, and at the beginning of this month, the company revealed that it had one big MSR sale lined up. Now we know that JPMorgan Chase will buy $45 billion of Ocwen mortgage-servicing rights.
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JPMorgan preps second ARM-only jumbo mortgage bond

$372.4 million offering receives triple-A ratings
Ben Lane
Kroll Bond Rating Agency, Moody’s Investor Service and Fitch Ratings each issued presale reports on J.P. Morgan Mortgage Trust 2015-IVR2, and each ratings agency awarded triple-A ratings to the majority of the offering’s classes.
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Wingspan lays off 100 more employees in Monroe

Are all 400 former JPMorgan Chase employees now gone?
Ben Lane
In October, Wingspan Portfolio Advisors laid off hundreds of employees in its Monroe, Louisiana location, leaving only an estimated 100 employees at the former JPMorgan Chase call center. Now those employees will soon be gone, too.
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JPMorgan Chase: Hold the phone on those DOJ robo-signing charges

Claims DOJ misrepresented settlement agreement
Ben Lane
JPMorgan Chase is pushing back at the Department of Justice’s claims that it admitted to misfiling more than 50,000 payment change notices in bankruptcy courts that were “improperly signed, under penalty of perjury, by persons who had not reviewed the accuracy of the notices.” According to Chase Vice President and Head of External Communications Jason Lobo, Chase made no such admissions, despite agreeing to the settlement.
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DOJ fines JPMorgan Chase $50 million for robo-signing

Chase admits to misfiling mortgage documents
Ben Lane
JPMorgan Chase admitted to misfiling more than 50,000 payment change notices in bankruptcy courts that were “improperly signed, under penalty of perjury, by persons who had not reviewed the accuracy of the notices,” and will pay more than $50 million to homeowners as part of a settlement with the U.S. Department of Justice over its mortgage practices.
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