JPMorgan Hit Again Over Denied Mortgage Relief

Law360, New York (September 30, 2010, 5:04 PM EDT) -- JPMorgan Chase Bank NA has been hit with another class action accusing it of violating the loan modification provisions of the Troubled Asset Relief Program and refusing to provide relief for eligible homeowners facing foreclosure.

The complaint, filed Tuesday in the U.S. District Court for the Central District of California, claims the bank’s mortgage arm, Chase Home Finance LLC, has deliberately breached its agreement under TARP to extend a permanent loan modification to borrowers who satisfy the terms of a temporary adjustment.

Rather than permanently reduce...
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