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Consumer Protection Lawsuit
On September 16, 2010, Lanza & Smith filed a class action lawsuit against EMC Mortgage ("EMC") and JP Morgan Chase Bank ("Chase") alleging that EMC and Chase committed loan fraud in their mortgage loan servicing business. EMC and Chase are in the business of servicing mortgage loans on behalf of lenders and investors, including pooled mortgage security investments. EMC is a subsidiary of JP Morgan Chase.
This consumer protection action was filed in Orange County, CA, on behalf of class representative Jean Wilcox, and then later Michele Hood and Sharie Green as well. The action was then consolidated with other similar lawsuits across the nation and transferred to Multidistrict Litigation in Boston, Massachusetts.
It is estimated that the class includes more than 65000 homeowners who were denied loan modifications -- while struggling to keep their homes through the recent recession.
Class Action Settlement
Chase has agreed to settle certain claims that were part of the Multidistrict Litigation in Boston. On May 7, 2014, the Judge approved that settlement. If you are a settlement class member, you should have already received notice (by U.S. Mail to your home). That notice explained the settlement in detail. If you are not a class member, you will not receive notice, but you will not thereby relinquish any rights that you may have to pursue claims independently against Chase.
The settlement administrator is Kurtzman Carson Consultants, LLC, in San Francisco. Kurtzman has sent notice to homeowners who might qualify as class members, which lists the details. Kurtzman has also set-up a website and a dedicated phone number for this matter. The settlement website is www.ChaseMDLSettlement.com. The telephone line is 1-855-564-7379. Please contact Kurtzman with any questions you might have.