BofA Among Banks in $25 Million Deal Over N.Y. Mortgage Case
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Bank of America Corp., JPMorgan Chase & Co. and three other banks that reached a $25 billion national settlement over foreclosure practices have agreed to pay $25 million to New York to resolve some monetary claims over the use of a mortgage database.
New York Attorney General Eric Schneiderman sued Bank of America, JPMorgan and Wells Fargo & Co. in February over their use of the mortgage registry known as MERS, accusing the lenders of deceiving homeowners and conducting improper foreclosures.