Class Action Lawsuit Against Chase Mortgage Fraud

Law

A class action lawsuit is being filed against Chase Home Mortgage LLC and JPMorgan Chase, N.S. in the U.S. District Court for the Eastern District of New York, charging that defendants broke the agreement and reneged on their promises to modify struggling mortgages. The class action lawsuit is being brought on behalf of the following class of people:

Class Action Lawsuit Against Chase Mortgage

The alleged violations include forcing property borrowers to refinance their mortgages or pay a large sum to the lenders in advance of taking possession of their homes. Chase Home Mortgage also allegedly violated the loan servicing agents’ duties and violated the FHA’s loan-guarantee provision. Further, it is alleged that the defendants failed to develop and submit a timely, cost-effective, feasible, risk-based and verifiable loan modification program to the FHA. In addition, Chase allegedly failed to instruct its loan servicing agents to work with homeowners and to follow the letter of the regulations and rules of the Department of Housing and Urban Development (HUD). The lawsuit further claims that the banks violated the requirements set forth in HUD lawfully provided guidelines and orders.

The lawsuit charges that Chase and others committed illegal acts in violation of the Real Estate Settlement Procedures Act (RESPA).

RESPA outlines the lending parties’ responsibilities to provide notice of property foreclosure and give advance notice to the mortgagors of pending action. Chase was given 21 days notice of its intent to foreclose on homeowners’ home loans in July 2021. Another twist in this story is that the lender who provided notice and requested assistance from the FHA, was not an FHA insured mortgage lender. This was later discovered when a lead agency generated a list of over 1000 non-FHA lenders.

There are many class action lawsuits being filed against Chase and others who have been named in this case.

This class action lawsuit comes as the result of rampant mortgage fraud in the last few years. As reported by the Department of Justice, the number one complaint filed last year was under the fraudulent activity category. In fact, the second leading complaint was over the Chase practices of steering homeowners into FHA loans. Chase has settled the lawsuits against it that fall under these categories; however, it is alleged that it still commits fraudulent activity.

If you find yourself in any situation where you believe that you are a victim of illegal conduct by Chase or one of its underwriters, you should know that there are some very effective remedies available to you.

You should understand the class action lawsuit process and how you can file your own lawsuit against Chase. You should also understand state law and the role that your state attorney general can play in your case. Your state attorney general’s office can help you understand the laws in your specific area and that statutes will apply to your situation and whether or not your state law allows you to file a lawsuit under these laws.

If you have been a victim of Chase Mortgage Fraud and have been able to recover your funds, you may be entitled to receive compensation for mismanaged funds.

If your bank used your original home equity overdraft fees as the basis for denying you a line of credit or refinancing your mortgage, you may be able to recover most, if not all, of your overdraft fees. However, Chase Bank has been known to fight in court to prevent homeowners from recovering this money. If you can prove that you were the victim of illegal conduct and suffered damages as a result, your state attorney general and your class action lawsuit can help you recover your losses.

3 thoughts on “Class Action Lawsuit Against Chase Mortgage Fraud

  1. I would like to join a class action lawsuit against Chase for closing bank accounts and credit cards and bank for life for no legitimate reason. Chase lure me to open their travel rewards credit cards then shut it down and freeze them so I have no access to my travel reward points that I earned. I also paid $200 in annual fees for their credit cards and only get to use them for 2 months. I spent several frustrating days dealing with both branches and phone representatives and got no where. Please advise on how I can join Chase class action lawsuit with similar cases.

  2. I would like to join a class action lawsuit against Chase for closing bank accounts and credit cards and banned me for life for no legitimate reason. I’ve been an ideal customer and had not giving Chase any reason for such rude and ill treatment. Chase lured me to open their travel reward credit cards then shut them down and freezed them so I have no access to my travel reward points that I had earned. I also paid $200 in annual fees for their credit cards and only get to use them for 2 months. I spent several frustrating days dealing with both branch and phone representatives and got no where. Please advise on how I can join a Chase class action lawsuit with similar cases.

  3. I believe chase mortgage is fraud My Mortgage went from 65 Thousand to I remember getting 30 thousand they said I own 1000.00 thousand how that happen I don’t know. Please help.

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