JPMorgan leads big banks in residential foreclosure volume, survey finds
JPMorgan Chase, Bank of America and Wells Fargo, respectively, hold the most residential one-to-four family homes in foreclosure, according to analytics provider SNL Financial. JPMorgan (JPM) has $19.5 billion, 7.5% of its residential mortgages, in foreclosure while BofA (BAC) has $18.7 billion, 4.39 %, and Wells Fargo (WFC) has $17.5 billion, 4.74%, in foreclosure. In addition to its $18.7 billion in foreclosure, BofA also has $87.94 billion in foreclosures that it services for others, according to SNL Financial. JP Morgan has $54.5 billion for in foreclosures serviced for others and Wells Fargo has $36.4 billion, according to June 30 SNL data. A one-to-four family home is a residential mortgage that serves as a primary residence and therefore must be owner-occupied. Barclays Group US, Ally Financial and New York Private Bank & Trust have the highest percentage of homes in foreclosure. Barclays Group has $495 million, 17.74% of its residential mortgages, in foreclosure. New York Private Bank has $378 million, 12.05%, and Ally has $2.2 million, 10.16%, in foreclosure. Attorney Generals from all 50 states are launching investigations to review foreclosure practices within their own states. Ariana Garza is an editorial assistant at HousingWire. The author holds no relevant investments.