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Churches send lenten message of repentance to banks involved in foreclosure crisis
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JPMorgan discloses that SEC may commence enforcement actions related to mortgage-backed securities
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MF GLobal transfer of $165 million to JPMorgan took minutes
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Additional analysis of impending $25 billion foreclosure fraud settlement
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49 states to settle with JPMorgan, other banks over foreclosure fraud
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Banks face variety of threats over force-placed mortgage insurance
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"Flurry of subpoenas" in force-place insurance probe
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Attorney General Holder announces subpoenas issued to 11 financial institutions in investigation of mortgage securities fraud
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California Attorney General calls proposed settlement with mortgage industry "inadequate."
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JPMorgan at center of MF Global failure

MIchigan family successful in wrongful foreclosure claim against JPMorgan
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Bear Sterns Trust has sued J.P. Morgan Chase & Co. (NYSE:JPM) over mortgage securities.

The Bear Sterns Trust has sued in New York Supreme court alleging that JPM breached representations regarding mortgage loans. Bear Sterns is seeking $95 million in damages.
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J.P. Morgan Chase & Co. (NYSE:JPM) has been sued by HSH Nordbank over mortgage bond losses.


J.P. Morgan sued by the German lender HSH Nordbank AG in lawsuits over losses on about $293 million in mortgage bonds.
HSH Nordbank, said that, “Offering documents for the securities contained “material misrepresentations and omissions” about the loans backing the securities. Wrongdoing by J.P. Morgan, Ally and other defendants named in three separate cases “led directly” to losses on the securities”.
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MF Global U.K. Administrators Threaten Client Money Lawsuits

Administrators at MF Global Holdings Ltd (MFGLQ).’s U.K. unit said they have threatened to sue large financial institutions who were unwilling to release money they held for the failed broker’s clients.

JPMorgan Chase & Co., was among the depository institutions holding cash and assets for MF Global customers, according to documents released by KPMG.

JP Morgan halts consumer credit collection suits nationwide.

Chase's halt "follow[s] scattered defeats in state courts and a whistle-blower's allegation that it falsely overstated the balances of thousands of delinquent accounts it sold to a third party. Former Chase employees and debt collection experts insist that the bank would not have abruptly retreated from its collections efforts in the absence of trouble."
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Benjamin Lawsky, superintendent of New York state’s Department of Financial Services, is evidently investigating whether a number of large banks including JP Morgan, Citigroup, Wells Fargo and Bank of America overcharged customers on force-place insurance, in which the loan servicer purchases an insurance policy in case a homeowner does not keep up his or her insurance premiums.
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Federal Reserve governor says that mortgage servicers that broke the law should be fined
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California and Nevada attorney generals team up to investigate mortgage and foreclosure fraud.

California AG Kamala harris had previously pulled out of ongoing settlement negotiations betweens banks and mortgage companies and state and federal officials. That negotiation indicated banks would pay approximately $25 billion in damages, seen by many as quite lenient given extent of wrongdoing. New action by CA and NV AG's, along with Massachusetts AG's suit against five large banks and MERS, may indicate such a settlement is less likely.
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commentary on Massachusetts AG Coakley's suit against banks for foreclosure fraud
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Massachusetts Attorney General announces suit against JPM, Ally Financial, Bank of America over home foreclosures
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