BofA, JPMorgan Chase Say They've Fulfilled National Mortgage Settlement Obligations: Report


BofA, JPMorgan Chase Say They’ve Fulfilled National Mortgage Settlement Obligations: Report

BofA, JPMorgan Chase Say They’ve Fulfilled National Mortgage Settlement Obligations: Report

Yeah, I’ll have some of that kool-aid ya’ll having!


Bank of America and JPMorgan Chase say they’ve fulfilled their obligations to troubled borrowers mandated by a settlement the banks agreed to last year, the Los Angeles Times reports. But despite the banks’ self-reported progress, questions still linger as to the effectiveness of the deal, which aimed to settle claims of systematic and widespread mortgage fraud in the lead up to the financial crisis.

In signing onto the settlement with 49 states and the federal government last year, BofA, JPMorgan, Wells Fargo, Citigroup and Ally Financial agreed to pay out billions to troubled homeowners and revamp the way they manage home loans, a process critics argued was unfair and often damaging to homeowners. In return, prosecutors agreed not to pursue legal claims over the lenders’ alleged “robo-signing,” a practice in which bank staff forged documents in an aim to speed up the foreclosure process.


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One Response to “BofA, JPMorgan Chase Say They’ve Fulfilled National Mortgage Settlement Obligations: Report”

  1. There is no way in “H” Chase nor any of the rest of these banks fullfilled their settlement agreements. The only language this bank and the rest have is Lying lying and lying some more. Con ways to deceive and betray their customers and this settlement in every step of the way, at every peel of the onion. This report should be held against them. These banksters need to go to jail. Many articles on this blogg have proven the fraud and deception by these banks. The fact that they have driven homeowners out of their homes that were not in default and never returned the homes should be enough proof. The fact that these frauds are continuing the same unconscionable crimes before during and after the settlement should be enough to charge them all with all with criminal conspiracy charges fraud and eocnomic terrorism crimes.


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