Tag Archives: jp morgan

The Obama Administration’s War On Banks Now Focuses On JP Morgan

Obama’s administration has criticized JP Morgan “for failing to effectively assist struggling homeowners>” Why should banks assist struggling homeowners? Why should banks not be free to pursue their own self-interest aka maximum profit? I pursue my own self-interest every day … Continue reading

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JP Morgan Gets The Best Press

During the financial crisis of 2008, JP Morgan needed no government assistance. Its leader Jamie Dimon got the best press of any American banker. JP Morgan is opening up mortgage aid centers around the country. Boston.com reports: The national lender … Continue reading

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New Jersey To Monitor Mortgages

The six big banks affected can’t be happy about this. New Jersey Supreme Court Chief Justice Stuart Rabner said there were too many irregularities in the banks’ foreclosure process. The banks will have to present their case in court next … Continue reading

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Homeowners Struggle To Pay Mortgages

More mortgage modification news. Will the schemes and manipulations never end? Why not let the free market sort it out? Here’s an article from CNBC sent to me by Karen Triggiani: If you’ve demonstrated a track record of paying your … Continue reading

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Restructuring Mortgage Loans

In the midst of the widening housing crisis, there’s been quite a lot of criticism from voters aimed at the recent efforts by the government to bail out financial institutions that are being dragged down by souring mortgage securities. After … Continue reading

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More Than 7 Million Americans Expect To Default On Their Home Loans In Next Two Years

That’s why more banks and government entities are working to reduce foreclosures and shore up home values. Report: JP Morgan has revealed it is set to renegotiate $70bn of bad mortgages on its books in an attempt to curb repossessions … Continue reading

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JP Morgan Offers To Refinance Loans

I wonder how JP Morgan stockholders feel about this? I guess they hope that restructuring loans will cost JP Morgan less money than a bunch of foreclosures. Bank of America restructured thousands of homes to settle a series of lawsuits. … Continue reading

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One In Five Homeowners Owe More Than Their Home Is Worth

The real estate situation is worse in California, Florida, Arizona and Nevada. Otherwise, it is not so bad. Some housing markets, such as in Boston, are recovering. JP Morgan has made an offer to refinance about $70 billion worth of … Continue reading

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Profits Drop At JP Morgan

Big surprise here: Profits at JPMorgan Chase fell by 84 per cent in the third quarter as bad mortgages inherited through its acquisition of the failed Bear Stearns took their toll. The American bank made a profit of $527 million … Continue reading

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Gambling On GSEs

David Smith writes: Senator Martinez is right — it is a big gamble, Treasury-backed, but far from the only such gamble Treasury’s taken lately.  Banking on value, the Fed has lent $200 billion into the securities system, and arranged a … Continue reading

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