New Orleans I found myself shaking my head reading that Ocwen, the giant mortgage loan servicer, had finally been brought to the bar and agreed to pay out $2.2 billion for making a mess of mortgages they were servicing for all of the banks from 2009 to 2012. For the homeowners caught in the crossfire …
Category: Foreclosure
JP Morgan Chase Whining is Hardly a Lesson Learned
New Orleans JP Morgan Chase finally agreed to pay a $13 billion fine to compensate for a small part of its mortgage mischief. Experts doing the math and calculating the formula for comparable settlements at 2% of the damage done and then estimating the potential level of bad mortgages sold, believe that Chase might have gotten …
JP Morgan Chase Gaming on Big Settlement
Little Rock Ok, you remember that we were skeptical when news of the $13 billion record breaking settlement between JP Morgan Chase and the Justice Department was announced until the details became clearer. I just wasn’t sure the leopard could change its spots by buying a new paint job no matter what the price. Now, …