JPMorgan Chase Mortgage Modification

Keller Rohrback was recently appointed interim co-lead counsel in the putative class action JPMorgan Chase Mortgage Modification Litigation, representing Plaintiffs in numerous states in proposed consolidated class actions against Defendants EMC Mortgage Corporation, The Bear Stearns Companies  LLC, Chase Home Finance LLC, and JPMorgan Chase Bank, N.A. (collectively “Chase”) regarding misleading mortgage loan modification practices.  Specifically, Plaintiffs allege that Chase has breached contracts by failing to grant final modifications to homeowners who have completed a “Trial Period Plan,” has engaged in deceptive practices in its loan modification process, and has failed to honor final modifications.

The Consolidated Complaint alleges that Defendants violated various states’ consumer protection laws, and breached their contracts and duties of good faith and fair dealing related to Chase mortgage modifications, by, among other things:

• Breaching Trial Period Plan agreements by failing to grant modifications at the end of the three month period;
• Directing mortgagors to become delinquent by intentionally missing payments and proceeding to take advantage of the mortgagors’ defaults;
• Benefitting from an extended modification process in which a decision on modification is delayed by, among other things, Chase claiming that it is missing documentation;
• Verbally promising eventual permanent modification with no intent to actually modify;
• Pursuing and threatening foreclosure as the modification process drags on;
• Increasing homeowners’ arrearages by charging fees and allowing interest to accrue during a drawn out modification process; and,
• Unilaterally canceling final modifications, throwing homeowners back into delinquency.

If you have any questions or concerns regarding these cases please contact paralegal Nick Wallace or attorneys Gretchen Obrist or Gretchen Cappio via email at Consumer@kellerrohrback.com or at 866.434.2914. Please note that contacting us does not create an attorney-client relationship nor does it guarantee that you will obtain any recovery in this litigation.  These cases are proposed class actions.  Please be advised that we are not taking individual cases or representing individual homeowners with respect to their loan modification efforts and/or foreclosure proceedings.

The JPMorgan Chase Mortgage Modification Litigation is a consolidated action of related and similar cases across the country.  Those cases were transferred to the District of Massachusetts and consolidated following an order by the Judicial Panel on Multi-District Litigation.  The cases filed by Keller Rohrback that have been consolidated are listed below.

Pacheco v. EMC Mortgage Corp., No. 11-3002, (E.D. Wash.)
Leopold v. Chase Home Finance, LLC, No. 11-0669 (W.D. Wash.)
Montez v. Chase Home Finance, LLC, No. 11-0530 (S.D. Cal.)
Karnes v. Chase Home Finance, LLC, No. 11-1574 (D. Minn.)
Hajnal v. Chase Home Finance, LLC, No. 11-6025 (C.D. Cal.)