The nation’s second-largest bank by assets said third-quarter income rose 23% to $4.4 billion, or $1.01 a share. While investment and retail banking revenue slipped, JPMorgan was able to set aside less money to cover bad loans,…
The “robo-signers” at banks who signed thousands of foreclosure-related documents were essentially lying under oath. But perhaps even worse were the lawyers involved: They’re the ones who should have known better and put an en…
GMAC, which is a unit of Ally Bank, has hired a number of accounting and legal firms to go over its foreclosure procedures.
Continue reading GMAC Will Review Foreclosures in All 50 States
GMAC Wi…
JPMorgan Chase kicks off earnings season for the financial sector Thursday, and investors will be keen to see whether a pick-up in mergers and acquisitions has offset an industry-wide drop-off in trading activity.
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Attorneys general in dozens of states plan to launch a joint probe into charges that banks used bogus paperwork to evict borrowers from their homes.
The investigation will go after charges that lenders including GMAC, JPMorgan Chase (JPM) and Bank of America (BAC) forged documents and faked social security numbers in order to foreclose on homes, The New York Post said.
Bank of…
Continue reading Attorneys General May Launch Foreclosure Investigation
Attorneys General May Launch Foreclosure Investigation originally appeared on DailyFinance on Mon, 11 Oct 2010 07:35:00.
Filed Under: Company News, Economy, JP Morgan Chase, Bank of America, Real Estate, Taxes, Credit