JPMorgan Chase must pay a $4 million surety bond to expedite the transfer of foreclosure cases still under the umbrella of foreclosure law firm Ben-Ezra & Katz.
The U.S. District Court for the Southern District of Florida made that ruling after JPMorgan Chase Bank sued Ben-Ezra, alleging the firm is delaying the return of foreclosure documents that represent $400 million in financial transactions. JPMorgan requested the documents after terminating an agreement with Ben-Ezra to handle its foreclosures.
March 28 (Bloomberg) — JPMorgan Chase & Co. sued the Florida law firm of Ben-Ezra & Katz to force it to return files of foreclosure cases in which the firm represented the bank.
JPMorgan said in a complaint filed March 25 in federal court in Miami that the files include thousands of original promissory notes, mortgages and other documents that “evidence and secure” loans worth more than $400 million. The New York- based bank seeks a court order forcing Ben-Ezra to return the files and unspecified damages.
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