J.P. Morgan made embarrassing mistakes with foreclosures

JPM’s Dimon says Bank will pay for Foreclosure Errors

Crains New York Business.com reports:

Jamie Dimon, chairman and chief executive of J.P. Morgan Chase & Co., says that although the bank didn’t foreclose on people who should have been exempted, its mistakes are “embarrassing.”

(Bloomberg) – J.P. Morgan Chase & Co., the second-biggest U.S. bank by assets, will pay for errors it made in processing the foreclosure paperwork on defaulted home loans, Chief Executive Jamie Dimon said at a conference hosted by the Council of Institutional Investors in Washington:

“Some of the mistakes were egregious, and they’re embarrassing,”

He said the bank faces extra legal and regulatory hurdles after a Florida lawsuit uncovered that bank officials had signed foreclosure affidavits without verifying their accuracy.

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About Lawrence "Larry" Berezin

I retired from the private practice of law after a 35-year legal career and fight parking tickets for people like you and me. I love sharing valuable information and beating NYC parking tickets for the driving community

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