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Mon Nov 19, 2012, 07:24 PM

 

Big U.S. banks give $22 billion under mortgage relief deal

Source: Reuters

(Reuters) - Five U.S. banks have provided about $22 billion in mortgage relief to customers under a deal to settle borrowers' accusations over foreclosures, a report by the settlement's monitor said on Monday.

The report said that Bank of America Corp, which owes the most, improved in delivering first-lien mortgage modifications to customers, trailing only JPMorgan Chase & Co through September.

Bank of America provided $889.2 million in first-lien modifications that reduced loan balances for consumers, a turnaround from August when the bank had completed none. JPMorgan Chase & Co's total was $903.1 million in modifications, the most of the five banks.

Monday's report by Joseph Smith, the former North Carolina Banking Commissioner who is serving as the settlement's monitor, said the five banks together have completed about $22 billion in customer relief, up from $10.6 billion in August.

Read more: http://www.reuters.com/article/2012/11/19/us-mortgage-settlement-banks-idUSBRE8AI0LU20121119



Oh, you doubters!

President Obama delivers again.

6 replies, 1407 views

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Reply Big U.S. banks give $22 billion under mortgage relief deal (Original post)
banned from Kos Nov 2012 OP
Demeter Nov 2012 #1
banned from Kos Nov 2012 #2
Demeter Nov 2012 #3
Egalitarian Thug Nov 2012 #6
panAmerican Nov 2012 #4
Demeter Nov 2012 #5

Response to banned from Kos (Original post)

Mon Nov 19, 2012, 07:27 PM

1. Read the fine print

A lot of their "givebacks" have been on paper only, or total scams. We at Stock Market Watch have been logging it in the daily thread.

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Response to Demeter (Reply #1)

Mon Nov 19, 2012, 07:30 PM

2. I read every bit of the article.

 

I suspect you want to piss on any accomplishment of this administration.

But I see through your lame attempt.

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Response to banned from Kos (Reply #2)

Mon Nov 19, 2012, 08:02 PM

3. The fine print isn't in this article, which is a press release, by the way

The fine print comes from a reporter like Yves Smith of Naked Capitalism.

Press releases come from repeaters, not reporters.

And girls don't piss on things. It's physically impossible.

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Response to Demeter (Reply #3)

Tue Nov 20, 2012, 09:09 AM

6. You're just a Communist hater trying to confuse the issue with all those fact thingys.

 

And everybody knows that press releases are just as good as news anyway. So there poopy-head.

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Response to banned from Kos (Original post)

Mon Nov 19, 2012, 10:59 PM

4. Didn't JPMC by itself get $29B+ for Bear Stearns?

This is so little, so late for a lot of homeowners.

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Response to banned from Kos (Original post)

Tue Nov 20, 2012, 08:37 AM

5. Why the Foreclosure Deal May Not Be So Hot After All MATT TAIBBI FROM JULY

Why the Foreclosure Deal May Not Be So Hot After All

Read more: http://www.rollingstone.com/politics/blogs/taibblog/why-the-foreclosure-deal-may-not-be-so-hot-after-all-20120209#ixzz2ClmvOuOc
Follow us: @rollingstone on Twitter | RollingStone on Facebook

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