The bank chose Peter Muriungi as the replacement for Mike Weinbach, who was named CEO of Mortgage Banking at Chase in December.
Read More »OCC Lets JPMorgan Chase and EverBank Off the Hook, Sort Of
The OCC has terminated mortgage-related consent orders against JPMorgan Chase and EverBank. ending business restrictions that were mandated against them in mid-2015. But the two banks did not emerge completely unscathed.
Read More »JPMorgan Chase Names New CEO of Mortgage Banking
Mike Weinbach has been with the bank for 12 years, during which time he has served in many roles.
Read More »Judge Approves JPMorgan Chase RMBS Settlement
Investors claim that JPMorgan Chase misled them as to the quality of the loans underwriting $10 billion worth of residential mortgage-backed securities, according to Bloomberg; the bank denies any wrongdoing.
Read More »Department of Justice May Seek Criminal Charges Against RBS, Chase Execs
The DOJ is reportedly standing by its word and pursuing criminal cases against executives at these two banking institutions for allegedly selling flawed mortgage securities after being warned by associates of their wrongdoings.
Read More »Chase CEO: ‘Big, Dumb Banks’ Should Be Allowed to Fail
Should banks actually be allowed to fail? Well, the “big, dumb” ones should, according to JPMorgan Chase chairman and CEO Jamie Dimon, who on Wednesday blasted the institutionalized belief that mega-dollar bailouts for badly run banks is good for the economy.
Read More »Chase is Close to Fulfilling Consumer Relief Obligation for RMBS Settlement
Smith credited Chase with a total of $3.5 billion in consumer relief in his sixth report on the bank's progress since the November 2013 settlement over the selling of toxic mortgage-backed securities to investors. The bank has more than two years to pay the remaining $0.5 billion.
Read More »Court Dismisses BNY Mellon’s $600 Million RMBS Suit Against JPMorgan Chase
BNY Mellon contended that the clock for the six-year statute of limitations began ticking when it made the repurchase demand. JPMorgan countered that the statute of limitations began running on the date the transaction closed, which was June 28, 2006—more than seven years before BNY Mellon filed the lawsuit.
Read More »Freddie Mac Offering Pool of JPMorgan-Serviced NPLs
According to Freddie Mac, the SPO of JPMorgan-serviced loans are being marketed as two geographically diversified pools that are offered via auction, with bids due from qualified bidders on October 6. Freddie Mac said the sale is expected to settle in December 2015.
Read More »Los Angeles Drops Mortgage Discrimination Suit Against JPMorgan Chase
In addition its lawsuit against JPMorgan, the city of Los Angeles is also pursuing lawsuit for nearly identical discriminatory issues with Bank of America Corp., Wells Fargo & Co, and Citigroup, Inc.
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