JPM Loses Bid To Dismiss Loan-Mod Suit

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JPM Loses Bid To Dismiss Loan-Mod Suit

U.S. District Judge Richard Stearns of Boston has rejected a motion by JPMorgan Chase to dismiss a lawsuit charging the bank for mishandling loan modifications, and “gross ineptitude” of a bank unit in connection with loan modifications by prolonging the process, imposing additional fees on loans in default and starting foreclosures after homeowners filed for workouts.

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