Mortgage

[Snapshot] Here’s the latest progress on ChaseÕ RMBS settlement

Chase credited with $3.6B in consumer relief

National Mortgage Settlement Monitor Joseph Smith credited Chase with $3,555,280,673 in consumer relief to 158,107 borrowers through March 31, 2015.

This is Smith’s sixth report on JPMorgan Chase’s (JPM) progress on its settlement with the federal government and five states concerning claims that Chase, Bear Stearns and Washington Mutual packaged and sold bad residential mortgage-backed securities to investors before the financial crisis.

“We continue to help thousands of families become homeowners and assist those who may be struggling.  We have helped nearly 162,000 families through more than $19 billion in total mortgage relief,” JPMorgan said in a statement.

Chase also self-reported consumer relief credit for the second quarter of 2015. As of June 30, 2015, Chase claimed an additional $126,253,926 in consumer relief.

“I will continue to monitor and report on Chase’s progress until Chase provides the required $4 billion in credited consumer relief by Dec. 31, 2017,” said Smith.

In Smith’s fifth report, he confirmed that Chase provided $3,324,010,726 to 151,436 borrowers through Dec. 31, 2014.

From here, Smith said he is in the process of confirming Chase’s additional claimed relief and plans to report his findings near the end of this year.

Here is a snapshot of the update consumer relief

Click to enlarge

settlement

(Source: Joseph Smith)

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