Settlement | JPMorgan Says Foreclosure Accord With Federal Reserve, OCC May Come Today

JPMorgan Says Foreclosure Accord With Federal Reserve, OCC May Come Today

JPMorgan Chase & Co. (JPM), the second- biggest U.S. bank by assets, may settle an investigation into the bank’s foreclosure practices by federal regulators as early as today, executives said.

The bank took a $1.1 billion charge and may add as many as 3,000 employees to comply with the consent agreement, Chief Executive Officer Jamie Dimon and Chief Financial Officer Doug Braunstein told reporters on a conference call today after the bank reported a 67 percent increase in net income. The accord involves the Office of the Comptroller of the Currency and the Federal Reserve, the bankers said.

“They are going to issue some very significant changes,” Braunstein said. The agreement will address “weaknesses with our processes and controls” when the bank forecloses on overdue homeowners and cover the New York-based company’s use of affidavits, fees and documentation, he said.

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9 Responses to “Settlement | JPMorgan Says Foreclosure Accord With Federal Reserve, OCC May Come Today”
  1. On December 01, 2010. The www federal reserve dot gov released its BAILOUT information on 21,000 that got BAILOUTS both local and foreign. It was nearly 1 year 11 months after the bailouts and the list is not a comprehensive listing. I suggest you go to the website www federalreserve dot gov and take a good hard look.

    Citigroup = 2.2 Trillion Merrill Lynch = 2.1 Trillion Morgan Stanley = 2 Trillion Bear Stearns = 960 Billion Bank of America = 887 Billion (absorbed Merrill Lynch) Goldman Sachs = 615 Billion JPMorgan Chase = 178 Billion Wells Fargo = 154 Billion *** FOREIGN banks getting US BAILOUT: European Central Bank, Bank of England, Bank of Japan, Swiss bank UBS=165 Billion Deutsche Bank=97 Billlion Royal Bank of Scottland= 92 Billion *** OTHER BAILOUT FACILITIES RENAMED but US Taxpayer money: POMO, TAF, TARF, TSLF, PDCF, TARP, Agency MBS, CBLS for CDS, Maiden Lane LLLC *** SOME BAILOUT NUMBERS TO PONDER: TSLF=250 Billion TAF=900 Billion
    Stimulus I (Bush) = 168 Billion or 1 Trillion? Stimulus II (Obama) = 787 Billion TARP = 700 Billion QE1 = 175 Billion from Housing GSEs QE1 = 300 Billion in US bond buyback QE1 = 1.25 Trillion in mortgage backed securites QE2 = 600 Billion bond buyback QE2 = 300 Billion for mortgage backed securities Hope for Homeowners (FHA)=300 Billion FDIC Line of credit= 500 Billion Bush Tax cut extension by Obama=79 Billion estimate Fannie Mae/Freddie Mac =400 Billion BIS Bank of International Settlements estimate of derivatives fraud = 1500 Trillion NY TIMES estimate of derivatives fraud = 1000 Trillion Washington Post estimate of derivatives fraud = 600 Trillion Bloomberg News estimate of derivatives fraud = 28 Trillion US national debt = 14 Trillion

    INVESTIGATE THE DERIVATIVES FRAUD ON WALL STREET and the Dodd Frank Act. THIS IS THE CONGRESS THAT MAKES THE FINANCIAL REFORM LAWS! Some 21,000 got BAILOUTS.…see federalreserve dot gov

  2. Ann says:

    JPMORGAN / CHASE TOOK!!!!! 2 of our homes!

    This ia such a twisted operation— no one has a chance anfd it is a completyely UNFAIR process!!!

    SOOOOO sad that OUR USA has sucunbed to this crooked BS.

  3. l vent says:

    BLOOMBERG NEWS REPORTING THAT THE BANKSTERS ARE GOING TO HAVE TO PAY RESTITUTION TO THE FRAUDCLOSED ON HOMEONWERS WHO THEY STOLE THE HOMES FROM USING FRAUD. GIVE THE PEOPLE BACK THEIR STOLEN HOMES!!! UNJUSTIFIED CRIMIANL FRAUDCLOSURES ARE JUST UNFORGIVEABLE. THOSE PEOPLE LOST THEIR HOMES THROUGH NO FAULT OF THEIR OWN AND WERE DUPED INTO HAVING THEIR HOMES STOLEN AWAY FROM THEM. THESE FRAUDCLOSED ON HOMEOWNERS CONSTITUTIONAL RIGHTS WERE VIOLATED ON A MASSIVE SCALE. THESE CRIMINALS COMMITTED FEDERAL CRIMES TO DECEIVE THE AMERICAN PEOPLE AND VIOLATED OUR CONSTITUTIONAL RIGHTS AND BROKE PROPERTY LAWS THAT WERE PUT IN PLACE TO PROTECT US FROM BEING VICTIMIZED BY THESE CRIMINAL FRAUDSTERS,THEY DID THIS ALL IN ORDER TO STEAL HOMES THEY NEVER OWNED. THAT IS FASCIST TYRANNY AND THAT CANNOT BE ALLOWED TO STAND IN THE UNITED STATES OF AMERICA.

  4. l vent says:

    CNBC DianaOlick reporting the verdict is in, THE BANKSTERS/SERVICERS HAVE TO PROVIDE FULL DISCLOSURE OF WHO IS OWED ANY MONEY AND THAT INCLUDES WHO THE INVESTORS ARE, IN ORDER TO FORECLOSE. WHY DON’T FANNIE/FREDDIE AND THE BANKSTERS JUST ADMIT THE TRUTH, OUR HOMES ARE PAID FOR FREE AND CLEAR AND THESE MORTGAGE LOANS NEVER EXISTED BECA– USE OF THE PONZI SCHEME WE WERE ALL DUPED INTO PARTICIPATING IN. FUGGETABOUT A LOAN MEDIATION, RESCIND OUR FAKE MORTGAGE LOAN CONTRACTS. THE TRUTH IS WE THE HOMEOWNERS DO NOT OWE ANYBODY ANY MONEY AND WE NEVER, EVER DID. IT WAS ALL AN ILLUSION TO MAKE US PAY A FRAUDULENTLY INDUCED MORTGAGE THAT NEVER EXISTED. THE PROOF IS IN THE ORIGINATION FRAUD, ON THE TITLE AND IN THE COUNTY PUBLIC RECORDER OF DEEDS OFFICES THERE IS NATIONWIDE PROOF OF THE FRAUD AND THE BIGGEST PONZI SCHEME IN HISTORY THAT WAS IMPLEMENTED BY THE GSE’S FANNIE MAE AND FREDDIE MAC. GOD BLESS AMERICA.

    • l vent says:

      THE FED AND THE OCC ARE ALSO THREATENING TO FINE THE ROBO-SIGNING FRAUDSTERS LATER. HA!! THROW THE PONZI SCHEMERS IN PRISON.FORCE THEM TO GIVE THE PEOPLE BACK THEIR STOLEN HOMES, STOLEN PENSION MONEY, STOLEN JOBS, STOLEN WEALTH, THE HUNDREDS OF TRILLIONS OF DOLLARS THEY MADE OFF OF THE BACKS OF THE HARD WORKING AMERICAN PEOPLE IN THE PONZI SCHEME HEIST, AND RESCIND OUR FAKE FRAUDULENT MORTGAGE LOANS THAT NEVER EXISTED. NOW THAT IS THE ONLY FAIR DEAL THERE COULD POSSIBLE BE FOR MILLIONS OF DEFRAUDED HARD WORKING AMERICANS. .GOD BLESS AMERICA.

  5. tortelli says:

    I would like to obtain the official notary signature for Jamie L
    Monostori 1867224, code number 56
    Can anyone help with this?

  6. l vent says:

    RESCIND OUR FAKE MORTGAGE CONTRACTS! THEY ARE A _FRAUD_ AND A GIANT_ DECEPTIVE LIE_. OUR HOMES ARE PAID FOR FREE AND CLEAR BECA– USE OF THE PONZI SCHEME HEIST THAT WE WERE ALL DUPED INTO PARTICIPATING IN.
    JUST LIKE THE TAX-PAYER FUNDED BAILOUT THAT WE ALL GOT DECEIVED AND DUPED INTO PAYING FOR THE ROBBERY OF OUR OWN WEALTH BY THE VERY CRIMINALS THAT ROBBED THE AMERICAN PEOPLE IN THE FIRST PLACE WHO ARE THE NEW WORLD ORDER/THE FOREIGN OWNED MULTINATIONAL BANKSTERS/ FANNIE/FREDDIE/ THE FOREIGN OWNED MULTINATIONAL CORPORATIONS/WALL STREET AND THE FEDERAL RESERVE BANK.
    GM AND CHRYSLER WERE ALSO ALL IN ON THE PONZI SCHEME HEIST AS WELL AS GINNIE MAE, WITH THE COLLEGE LOANS.. _PAY BACK THE STOLEN MONEY_ and _THE STOLEN HOMES_ AND _RESCIND OUR FAKE MORTGAGE CONTRACTS_. OR WE THE PEOPLE WILL NOT VOTE FOR ANY OF THE REPUBLICAN/DEMOCRAT BASTARDS, THE CON MEN WHO ARE NO MORE THAN A CABAL OF CRIMINAL TREASONISTS AND LIARS AND ARE HIDING BEHIND THE SCENES OF THIS WHOLE PONZI SCHEME/FORECLOSUREGATE CONSPIRACY/ SCANDAL. ..
    NEW WORLD ORDER TREASONISTS INSIDE CONgress such as DAVID ROCKEFELLER devised the whole PONZI SCHEME IN THE BACK ROOMS OF CONGRESS AND THE BIGGEST SHAREHOLDER IN THE SO CALLED GSE FANNIE/FREDDIE THE IMF, IMPLEMENTED THE ENTIRE PONZI SCHEME/SCAM BY USING PERPS SUCH AS THE BANKSTERS AND WALL STREET TO CREATE TRILLIONS OF WEALTH OFF OF THE BACKS OF THE HARD WORKING AMERICAN PEOPLE,
    ALL THE WHILE OVER THE LAST 3 DECADES, TREASONIST PRESIDENTS WERE HARD AT WORK SENDING ALL OF OUR JOBS OVERSEAS AND DEREGULATING FOR THE CRIMINALS AND SELLING OFF OUR LAND.
    THEN THE ORIGINATORS AND THE PERPS BURST THE HOUSING BUBBLE BY STEALING OUR WEALTH AND SPREADING OUR WEALTH LIKE THE PENSION FUNDS AND 401K’S, MORTGAGE DERIVATIVE WEALTH AND OTHER TAX PAYER INVESTMENTS,TO OVERSEAS BANKSTERS TO — USE IN OTHER COUNTRIES WHO ARE NOW THE EMERGING COUNTRIES LIKE CHINA, INDIA AND BRAZIL.
    THE NEW WORLD ORDER STOLE OUR WEALTH AND SPREAD OUR WEALTH AND OUR JOBS AROUND THE WORLD AND LIED AND SAID WE ARE BROKE BECA– USE WE BOUGHT HOMES WE COULD NOT AFFORD AND — USED TOO MUCH CREDIT.
    ALL LIES.
    WE WERE INTENTIOANLLY SET UP TO FAIL..
    THEY KNEW THEY WERE GOING TO ROB US ALL AND THEN BURST THE BUBBLE THEY CREATED AND CA– USE A GIANT FINANCIAL CRISIS.
    THEIR ENTIRE EVIL PLAN WAS TO BANKRUPT AND THEREFORE DESIMATE AND OBLITERATE OUR ENTIRE ECONOMY AND STEAL THE WEALTH AND THE PROPERTY FROM THE PEOPLE BY STOMPING OVER OUR US CONSTITUTIONAL RIGHTS AND THEN THE THEY THOUGHT THEY COULD EASILY STEAL THE NATIONAL SOVEREIGNTY OF THE UNITED STATES OF AMERICA BY OFFERING TO FIX OUR PROBLEMS WITH A NEW WORLD ORDER. NOT SO FAST YOU LYING SCUMBAGS…
    THE JIG IS UP

    THE U.S. CONSTITUTION OVERULES THE NEW WORLD ORDER.
    NATIONAL SOVEREIGNTY UNDER THE U.S. CONSTITUTION WILL PREVAIL. GOD BLESS AMERICA.

  7. Jason Werner says:

    Just read Ecclesiastes 11:4

    Even if “they” come up with some kind of “settlement,” this thing will be going on until real justice.

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