First quarter earnings slipped 1.5-percent to $5.8-billion dollars, down from a record $5.9-billion a year earlier, and the first decline in four years for the country’s largest mortgage lender.
The report, titled “Underwater America: How the So-Called Housing ‘Recovery’ is Bypassing Many American Communities” is a first-of-its-kind look at the magnitude of the underwater mortgage issue.
JP Morgan Chase & Co. will pay nearly $300 million to California’s public employee and teacher pension funds as part of a settlement related to mortgage-related investments.
A Contra Costa County woman and Las Vegas man face charges for their alleged involvement in a multi-million dollar mortgage scam that bilked more than a thousand homeowners.
More than 200,000 Californians will each receive checks worth nearly $1,500 this month as part of the national mortgage settlement, the state attorney general’s office said Tuesday.
California’s attorney general sued one of the nation’s largest banks Thursday, alleging that JPMorgan Chase & Co. used illegal tactics in its efforts to collect debts from more than 100,000 credit card holders.
Real estate firms are reporting a record number of Bay Area homes are being bought with cash, making it increasingly difficult for first-time homebuyers to get their offers accepted.
A large portion of property owners in Contra Costa County remain underwater, making payments on mortgages higher than the value of the home, even though overall home prices in the San Francisco Bay Area are climbing upward once again.
California should receive at least $20.6 billion from a settlement with the nation’s major mortgage lenders, the largest share of any state and about $2 billion more than expected when the agreement to assist homeowners was announced last year, according to a report released Thursday.
The federal government has sued Wells Fargo Bank in New York, blaming the nation’s largest originator of home mortgages for thousands of loan defaults over the last decade.