Homeowners Drop JPMorgan Mortgage Rate Fight

Law360, New York (February 14, 2011, 1:31 PM EST) -- Homeowners facing foreclosure have dropped a proposed nationwide class action accusing JPMorgan Chase Bank NA of failing to live up to its duties under the Troubled Asset Relief Program by refusing to offer permanent loan modifications to eligible borrowers.

Gerard B. Schneller of Holland Groves Schneller & Stolze LLC lodged the lead plaintiffs' notice of voluntary dismissal in the U.S. District Court for the Southern District of Illinois on Thursday, closing the case before JPMorgan had filed a response or a class had been certified....
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