Posts tagged as:

chase loan modification

Man Fights Chase Mortgage After Wifes Death

by Moe Bedard

Little said he mailed paperwork to JP Morgan Chase seeking a loan modification, but that the bank said he did not qualify. He will be three months behind on his payments in November.
Chase officials said they could not discuss Little’s case specifically because of privacy laws, but that the bank has sent him more papers [...]

0 comments Read the full article →

Chase & Wells Fargo profiting big time from mortgage servicing

by Moe Bedard

Oct. 22 (Bloomberg) — Wells Fargo & Co. earned almost a third of its pretax quarterly profit by hedging mortgage- servicing rights, producing gains similar to those that have helped some of the biggest U.S. banks offset weaker consumer- lending businesses.

Wells Fargo’s hedges outperformed writedowns it took on the so-called MSRs by $1.5 billion and [...]

0 comments Read the full article →

Video: Chase CEO Jamie Dimon Disrespects Senator Marcy Kaptur & State of Ohio

by Moe Bedard

For those of you who do not know who Jamie Dimon is, he is the self assured, cocky CEO of Chase Bank and President of the New York Federal Reserve. Some people like myself feel that Jamie Dimon has more power than many in Congress.
Maybe this interview with one of the greatest state Senators of [...]

2 comments Read the full article →

JP Morgan Chase wants interest only loan modifications in Obama Plan

by Moe Bedard

Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans, seeking to bring more homeowners into the initiative while recognizing concern that it may only postpone defaults, according to JPMorgan Chase & Co.
“We’re working with our peers to develop a proposal to present,” Douglas Potolsky, a senior [...]

0 comments Read the full article →

Is JP Morgan Chase constructing the Great Depression?

by Moe Bedard

If our government allows this it will guarantee a GREATER DEPRESSION.  Whether it comes now or in a few years, it will happen.  This is the precise same stupidity that led to the 1930s and it will have the exact same outcome this time.
Here’s the problem folks, in one sentence:
The banks are STILL insolvent.
They are [...]

1 comment Read the full article →

Florida homeowner faces loan modification confusion

by Moe Bedard

“Some investors will not allow Making Home Affordable modifications because they cut the value of their investments too much — enough so they are losing money on their investment,” the spokeswoman said. “Investors don’t have to tell us why they decline a modification. It is not in our control.”
Now Brady is worried that the house [...]

2 comments Read the full article →

JP Morgan Chase fudging the books?

by Moe Bedard

Under U.S. accounting rules in place since 1995, banks are supposed to report the value of their mortgage-servicing rights on a fair-market basis, or roughly what they would fetch in a sale. A bank must record a loss whenever it sells MSRs for a price below where they’re marked on the books.
Because there’s no active [...]

0 comments Read the full article →

Wachovia Borrowers Face Delays In Govt Foreclosure Program

by Moe Bedard

For many of Wachovia’s struggling mortgage borrowers, getting a loan modification with Uncle Sam’s help is still out of reach.
Richard Bell, a Pick-A-Pay mortgage borrower at Wells Fargo & Co. (WFC) unit Wachovia, says he needs a government-assisted mortgage modification before his payments balloon early next year.
“This loan is blowing up on me and I’m [...]

0 comments Read the full article →

Chase sucks! Homeowners use social media to fight back

by Moe Bedard

Banks just do not get it. They may sit on all the big corporate media boards and fill political coffers in turn to pull the strings of our Senators, but they cannot control social media sites.
Their failure to do what is right is being exposed daily by homeowners and banking clients like the one below. [...]

4 comments Read the full article →

Are you being abused by Chase? Here is how you get help!

by Moe Bedard

Are you being screwed by Chase? Are you being used and abused during the loan modification or short sale process and want to know your rights?
Welcome to the club of unhappy homeowners, abused Chase clients and never ending stories of lies, lies and more lies. Heck, don’t take my word for it, there are over [...]

0 comments Read the full article →

Rancho Cucamonga foreclosure center is Chase’s busiest

by Moe Bedard

“The center does double the loan modification submissions than any other in the country,” said Rod Tawasha, home preservation manager.
This month, the foreclosure prevention center moved to a bigger location on Haven Avenue to meet the growing demand. At the center, customers with Chase, WaMu and EMC loans can get help in reducing interest rates, [...]

0 comments Read the full article →

Complete Q&A with Chase CEO, Jamie Dimon

by Moe Bedard

Q-Are you spending more time in Washington D.C.?
A-It gets written about more than is actual. The only difference now [when I travel there] is that I tend to go visit some senators and congressmen and the Fed.
Q-You’ve modified hundreds of thousands of mortgages. Is the push for mortgage modification a bad deal for banks?
A-No. You’ll [...]

1 comment Read the full article →

My marriage is on the rocks & I may lose my home because of Chase Mortgage

by Moe Bedard

Another homeowner story: I do not even know where to begin with my story. I have been going through with this loan modification with Chase since January 2009. I have been given the run around , lied to, put on hold, loss $1800.00 with a scandal loan mod. company, and currently still on hold with [...]

10 comments Read the full article →

Did Chase Stop Loan Modifications?

by Moe Bedard

Over in our free loan modification forum, a member and client of Chase said that they have temporarily halted all loan modifications. Did anyone else here this?
Click here to read the news:
diana0806  diana0806
Senior Member
Join Date: Aug 2008
Posts: 121
Re: All Chase Modification on Hold!!!
Yes, i was told the same thing today. But i was told they [...]

51 comments Read the full article →

Chase CEO writes Barney Frank a letter / Franks says $50 billion for housing is not enough

by Moe Bedard

House Financial Services Chairman Barney Frank (D.-Mass.) received a letter last week from JP Morgan Chase CEO Jamie Dimon announcing a three week foreclosure moratorium.

This just a day or so after Frank had called on mortgage servicers to impose a foreclosure moratorium to delay unneccasary foreclosures until the Obama adminisaration announces the housing details of the recently passed stimlus plan on Wednesday.

Read the full article →

Chase to Offer $1.1 Trillion in Loan Modifications

by Moe Bedard

Great news for Chase borrowers! You now have the most loan modification friendly lender in the country.

Chase announced Friday that they plan to modify a whopping $1.1 trillion in loans it services that tied up in securitizations (AKA Mortgage Backed Securities or Investor Owned Loans). They also plan to include mortgages in its portfolio .

3 comments Read the full article →

Lender Loan Modification Lip Service Part 2: Senator Schumer Says It’s All BS

by Moe Bedard

Fannie, Freddie, Countrywide, Bank of America, Chase and now Citi have all jumped on the proverbial billion dollar loan modification train. It makes me wonder if this has to do with Barack Obama becoming President and his “proposed” solutions for the mortgage and housing crisis…
Earlier today I wrote a post title, ‘Lender Loan Modification Lip [...]

4 comments Read the full article →

Lender Loan Modification Lip Service: Do Not Believe the Hype!

by Moe Bedard

I have been blogging, stressing and ranting about loan modifications long before it became hip and cool to talk about helping struggling homeowners and taking the consumerist approach to the crisis.
Even before Sheila Bair of the FDIC and most of the non-profit advocates piped in on loan modifications, I was telling it like it [...]

1 comment Read the full article →

JPMorgan Chase Announces $110 Billion Loan Modification Program

by Moe Bedard

JPMorgan Chase & Co. (JPM) the largest U.S. bank by market value, plans to offer $110 billion in loan modifications of mortgages with plans to expand its modification program within the next 90 days to help 400,000 homeowners avoid foreclosure.
In addition, Chase plans to forgo foreclosure proceedings on all real-estate loans while the changes are [...]

20 comments Read the full article →

Chase underwriter says, “We are approving 98% of the loan modifications.”

by Moe Bedard

I received a call last night from a nice gentleman who works as an underwriter in Chase’s loss mitigation department in San Diego, California.This unit of Chase is also known as the “ARM Unit”. 
In the course of the conversation he told me that the main function of this department is to modify as many adjustable rate mortgages as [...]

45 comments Read the full article →

Job posting for the loss mitigation consultant position at Chevy Chase

by Moe Bedard

“Skills/Abilities: The Loss Mitigation Specialist will possess excellent analytical, organizational and communication skills. The Associate will be confronted with difficult, unreasonable and verbally abusive mortgagors and must have the skills to handle the situation effectively.”
foreclosure questions    mortgage help  manufactured home loans   loan modification  free foreclosure help  
predatory lending

9 comments Read the full article →

Stop Foreclosure With Chase

by Moe Bedard

In researching Chase I have found that they are very active in doing what they can to stop foreclosure and help people nation wide. They have made more than $4 million in philanthropic grants to support financial education programs and initiatives, $2.4 million of which was for mortgage counseling.
They have a toll free number for [...]

27 comments Read the full article →