Dimon2 - Jamie Dimon: Americas Least-Hated Banker Bank He...

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Jamie Dimon: America’s Least-Hated Banker Moszkowski 115,000 2006, Bammann, Bank Cavanagh, Chase’s Dimon Dimon He JPMorgan Lehman Meanwhile, Miller, Morgan Nationwide, Next P. Prince, Ravi Some THE Taxpayers [the a a a a a a a a a admitted affidavits. again, ago, air and and and and another apparent, around. as at be biggest board. brace but but but but chief cohesion craze deals, debt decade, default described desire didn’t directors, do eagerness ensure fired for for for for gay globe, going gone got government had handled have he he he he her, him him his homeowners if including information, institutional invest investors. invited its it’s just lost lost machine,” manner. math members; modestly modifications modify need nobody not of of of of of of off once only only optimal or our position program promptly rate.) reducing reviewed right, risk-control see seized span, study survived,” the the the the the them. think tighten time to traded traders translates, try value. various was went went were were were which which wins.” with with worried wrote. “You _______ more than four million mortgages are seriously delinquent — a staggering number. In their _______ to unload such loans, banks have rushed to foreclose, submitting many thousands of improper _______ Plaintiffs’ lawyers have called for a halt to the process, and Chase has suspended _______ foreclosures. Dimon acknowledged to me that in Chase affidavits, individuals incorrectly said they had _______ loan files when in fact they relied on the work of others. So far, _______ says, Chase has not found cases of homes foreclosed on in error; payments on _______ suspended foreclosures are, on average, 15 months overdue. The states are investigating. Tom _______ the Iowa attorney general, who is leading a 50-state inquiry, says banks should follow _______ letter of the law; the point of requiring proper affidavits, he notes, is to _______ that banks bent on foreclosing submit reliable evidence to the courts. He also has _______ broader purpose. “What we do feel,” Miller says, “is that the mortgage-servicing companies should _______ a better job on reaching modifications. When a homeowner can make a payment, everybody _______ Like Miller, many people wonder why banks don’t simply renegotiate the terms. Chase _______ other banks have been sued for not modifying loans quickly enough under a government _______ intended to ease the crisis. People at Chase say they are working full speed, _______ the program is nightmarishly complex. Since the start of 2009, Chase has agreed to _______ 272,000 mortgages, about half of which are processed through government programs. Over the same _______ Chase has foreclosed on 224,000 homes. Foreclosure is not an optimal outcome for lenders, _______ nor is it in their interest to grant universal forgiveness. Chase, for
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Dimon2 - Jamie Dimon: Americas Least-Hated Banker Bank He...

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