JPMorgan in $50m payout over mortgage practices

JPMorgan will pay $50m as part of a national settlement agreement to compensate homeowners in bankruptcy over the use of robo-signing and other improper practices, the Department of Justice said on Tuesday.

Reuters reports that the settlement includes cash payments, mortgage loan credits and loan forgiveness to more than 25,000 homeowners, the department said in a statement.

Between 2011 and 2013, JPMorgan Chase filed more than 50,000 mortgage paymentchange notices in bankruptcy courts that had not been improperly signed and reviewed.

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JPMorgan to pay $50 million over improper mortgage practices

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