Archive for September, 2012

How to Erase a Debt That Isn’t There

September 30, 2012

The following article is brought to you by Gretchen Morgenson at NYTimes.Com. GREETINGS, unhappy homeowners! Here’s some wonderful news: “We are canceling the remaining amount you owe Chase!” says a letter that JPMorgan Chase sent recently to thousands of home loan borrowers. “You are approved for a full principal forgiveness of your Home Equity Account,” […]

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Mortgages: Fed helps lenders’ profit more than homebuyers

September 29, 2012

The following article is brought to you by PressTV.Com. The Federal Reserve’s latest mortgage bond purchases so far are helping profit margins at lenders including Wells Fargo & Co. (WFC) and JPMorgan Chase & Co. (JPM) more than homebuyers and property owners looking to refinance. Since the Fed’s Sept. 13 announcement that it would buy […]

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Payments May be Available To Many Connecticut Borrowers Who Lost Homes to Foreclosure

September 29, 2012

The following article is brought to you by Montville-CT.Patch.com. Attorney General George Jepsen said this week that payment claim forms are going out to thousands of Connecticut borrowers whose homes were lost to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, and who may be eligible for payment under the $25 billion National Mortgage […]

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Probe focuses on JPMorgan’s monitoring of suspect transactions

September 29, 2012

The following article is brought to you by Carrick Mollenkamp and Brett Wolf at ChicagoTribune.Com. (Reuters) – A U.S. regulatory probe of JPMorgan Chase & Co’s anti-money laundering systems is focusing on potential lapses in how the largest U.S. bank monitors suspect money transactions, according to people familiar with the situation. The probe appears to […]

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Some big banks eyed in drug, terror money laundering

September 29, 2012

The following article is brought to you by Jessica Silver-Greenberg and Ben Protess at MSNBC.MSN.Com. Federal and state authorities are investigating a handful of major American banks for failing to monitor cash transactions in and out of their branches, a lapse that may have enabled drug dealers and terrorists to launder tainted money, according to […]

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