Class Bid Over JPMorgan Appraisal Fees Nixed

Law360, New York (January 22, 2010, 4:46 PM EST) -- A federal judge has dismissed a proposed class action accusing JPMorgan Chase Bank NA of wrongly charging customers up-front fees when evaluating their homes for loan modifications under President Barack Obama's Making Home Affordable program, but has left the plaintiff leave to amend.

Judge Susan Illston of the U.S. District Court for the Northern District of California ruled Wednesday that the named plaintiff, Randall Stevens, had failed to state any cause for relief under the various state and common law claims in his complaint.

In the...
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