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JPMorgan Chase, which held Kelly's mortgage, bought the 11,140-square-foot home for a measly $950,000 -- a far cry from the $5 million that the home was once considered worth, according to NBC ...
Key takeaways. Homes become bank-owned properties after homeowners default on their mortgages and the bank forecloses. If no one opts to buy a foreclosure home at auction, the bank or mortgage ...
A JPMorgan Chase employee testified in a deposition that she was one of eight managers who combined to sign some 18,000 documents a month without the personal knowledge the documents claimed they ...
This revelation led to increased scrutiny of foreclosure documentation. The practice was apparently common in the mortgage industry. In the weeks following the robo-signing revelation, other large banks came under fire for employing robo-signers as well, including JPMorgan Chase and Bank of America. [14]
The FDIC sold the assets, all deposit accounts, and secured liabilities to JPMorgan Chase, but not unsecured debt or equity obligations. [39] Washington Mutual Savings Bank's closure and receivership is the largest U.S. bank failure in history. [40] Kerry Killinger, the CEO from 1988 to August 2008, had been fired by the board of directors.
Bank of America, Citigroup Inc, JPMorgan Chase & Co, Wells Fargo & Co, MetLife Bank, Aurora Bank FSB, PNC Financial Services Group Inc, Sovereign Bank NA, SunTrust Banks Inc, and U.S. Bancorp settle with regulators to pay out cash up to $125,000 to homeowners whose homes were being foreclosed when the paperwork problems emerged.
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