As the Obama administration attempts to turn around the beleaguered Hope for Homeowners program to fight foreclosures, it faces a nettlesome new headache. The primary lender involved is under investigation by the Department of Justice. snap. Senior federal housing officials say that of 51 loans made under the program, 50 were made by Melville, N.Y.-based [...]
With President Obama’s recently released Housing Rescue Plan, the pressure is on to stop the foreclosure crisis, but making that happen will require the cooperation of lenders. So clearly it won’t happen. Related Reading: reddit_url = http://chasehomefinancesucks.com/2009/07/17/consumer-alerts-top-stories-voice-of-democracy-wheres-the-outrage-your-money-search-browse-home-featured-top-stories-wheres-the-outrage-why-won/;reddit_title = Why+Won%27t+My+Mortgage+Company+Help+Me%3F;reddit_newwindow=’1′;yahooBuzzArticleHeadline=Why+Won%27t+My+Mortgage+Company+Help+Me%3F;yahooBuzzArticleId=http://chasehomefinancesucks.com/2009/07/17/consumer-alerts-top-stories-voice-of-democracy-wheres-the-outrage-your-money-search-browse-home-featured-top-stories-wheres-the-outrage-why-won/;Share
Net profit for the second quarter totalled $2.72bn (£1.6bn), an increase of 36% on the same period last year. Revenues at the company rose 41% to a record $27.7bn. Its results come two days after rival Goldman Sachs reported a $3.44bn second quarter profit. Also this was one day after they received my mortgage payment. [...]
The banks, including JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. and some regional banks, are trying to pressure lawmakers to end the impasse by warning that, after Friday, they won’t accept IOUs issued by the state. The move would leave many businesses and families with pieces of [...]
We can do this 1. Numerosity – enough plaintiffs to make class action an efficeint way to handle the claim. 2. Commonality – common issues of fact and law for each claimant 3. Adequacy of Class Rep – the person who is the class representatitve needs to have claims that are the same as the [...]
JPMorgan said it had returned $25 billion, with interest, to the government — money that the bank’s chief executive, Jamie Dimon, has said it never needed in the first place. What about all the other money they have received. When the Feds suck up 25 billion and you get a bank. PLEASE! Related Reading: reddit_url [...]
Of course TARP isn’t the only form of taxpayer subsidy that has benefited Dimon’s bank. The Fed absorbed $29 billion of Bear Stearns’ toxic assets as part of its acquisition by Chase. They also got a sweet deal on WaMu, which was seized by FDIC and handed to Chase on a silver platter. More importanly, [...]
U.S. Housing and Urban Development Secretary Shaun Donovan today announced that HUD is approving plans submitted by state housing finance agencies for $1,035,322,485 to jump start affordable housing programs in states throughout the country that are currently stalled due to the economic recession. Funded through American Recovery and Reinvestment Act of 2009 (Recovery Act), HUD’s [...]
Aurora Loan Services, Wells Fargo, and JPMorgan Chase will receive payment from the government for each loan modification they process. To further entice mortgage companies to participate, the government is offering payments totaling up to $10 billion to compensate them for the risk of falling home prices. Mr. President, Why pay a company more for [...]
