JPMorgan pays out over mortgage lending

The largest bank in the US, JPMorgan Chase, will pay $614m and improve mortgage lending procedures under a new deal.

JPMorgan pays out over mortgage lending
Wed, 05 Feb, 2014 - 08:36

The largest bank in the US, JPMorgan Chase, will pay $614m and improve mortgage lending procedures under a new deal.

The agreement is to settle claims it approved thousands of unqualified home mortgage loans for government insurance and refinancing since 2002, costing the government millions of dollars when the loans defaulted.

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CourtsBusinessHeathrowPlace: USPlace: ManhattanPlace: New YorkPerson: J Paul OetkenPerson: US AttorneyPerson: Preet BhararaPerson: AmericansPerson: Tony WestPerson: Bernard MadoffPerson: MadoffOrganisation: JPMorganOrganisation: JPMorgan ChaseOrganisation: Bear Stearns
<p>Under the model, the HCCI said that home care referrals are issued simultaneously to all approved providers, who must respond immediately to secure the allocation.</p>

Home care firms want HSE to end home support allocation model

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