Posts tagged as:

chase mortgage

Chase Bank Accidentally Sells Couple’s Home

by Moe Bedard

He and his wife, Yanthy, found out about the foreclosure when the new owner posted a notice on their door Nov. 4.
“I get this notice that says you have five days to vacate the property,” he said. “So I called the number (on the notice) and I say, ‘Who are you?’ and they say, ‘We’re [...]

2 comments Read the full article →

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 →

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 →

Subprime Lenders Getting U.S. Subsidies, Report Says

by Moe Bedard

Much “of this money is going directly to the same financial institutions that helped create the sub-prime mortgage mess in the first place,” Bill Buzenberg, executive director of the center, said in a statement.
For example, J.P. Morgan Chase, Wells Fargo and Countrywide, which has been bought by Bank of America, are eligible to receive billions [...]

0 comments 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 .

5 comments Read the full article →