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JPMorgan Chase Mortgage Settlement Documents

JPMorgan Chase Mortgage Settlement Documents

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Published by FindLaw
These documents contain details of the national mortgage settlement reached between the federal government and the five largest loan servicers operating in the U.S.
These documents contain details of the national mortgage settlement reached between the federal government and the five largest loan servicers operating in the U.S.

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Published by: FindLaw on Mar 12, 2012
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06/05/2013

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
et al.

et al.

CONSENT JUDGMENT
 
 
 
H-1
EXHIBIT H
 
 
H-2
USDOJ Servicemembers Civil Relief Act Settlement Provisions:J.P. Morgan Chase Bank, N.A.
In exchange for a full release of the United States’
1
potential civil claims under theServicemembers Civil Relief Act (“SCRA”), 50 U.S.C. app. § 501,
et seq.
, arising prior to thedate of this agreement against Servicer
2
with respect to the servicing of residential mortgages,under the provisions of the SCRA related to (a) mortgage foreclosure and (b) the prohibitionagainst charging more than 6% interest on SCRA-covered mortgaged debt after a valid requestby a servicemember to lower the interest rate and receipt of orders, Servicer agrees to theprovisions set forth below.I.
 
Servicer shall comply with all the “Protections for Military Personnel” provisions in theSettlement Agreement (“Article V”). In addition, Servicer shall undertake additionalremedial action and agree to the policy changes set forth below.II.
 
Compensation for Servicemembers and Co-Borrowersa.
 
Identification of Violations of Sections 533 and 521 of the SCRA related tocompleted foreclosures on active duty servicemembers:
 
Servicer will engage an
1
The following claims are specifically reserved and not released: Any action that may be taken by the appropriateFederal Banking Agency (FBA), as defined in 12 U.S.C. § 1813(q), against Servicer, any of its affiliated entities,and/or any institution-affiliated party of Servicer, as defined in 12 U.S.C. § 1813(u), pursuant to 12 U.S.C. § 1818,and any action by the FBA to enforce the Consent Order issued against Servicer by the FBA on April 13, 2011.
2
For purposes of the agreement in this exhibit, “Servicer” shall mean J.P. Morgan Chase Bank, N.A. (including itsparents, subsidiaries, and affiliates), and its successors and assignees in the event of a sale of all or substantially allof the mortgage servicing related assets of (1) J.P. Morgan Chase Bank, N.A., or (2) any of J.P. Morgan ChaseBank, N.A.’s division(s) or major business unit(s) that are engaged in servicing residential mortgages. Thisagreement does not apply to servicing activities performed by Washington Mutual Bank before certain of its assetsand liabilities were acquired by J.P. Morgan Chase Bank, N.A. on September 25, 2008. The United States reservesand does not release any potential claims under the SCRA it may have against Servicer regarding actions taken byWashington Mutual Bank on or before September 25, 2008.

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