JPMorgan Hit With Class Action Over Late Mortgage Docs

Law360, Los Angeles (February 18, 2014, 6:01 PM EST) -- JPMorgan Chase Bank NA was hit by a putative class action in Pennsylvania federal court on Tuesday by a mortgagor who says the bank systematically fails to timely present to the county clerks of the state of New York proof that mortgages have been satisfied.

Plaintiff Amy Schwartz says two New York statutes require mortgagees like JPMorgan to present to the proper county clerk a satisfaction of mortgage when the mortgagor has paid the entire principle and interest due. Those laws require a mortgagee to be...
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