A Children’s Treasury of HAMP Litigation

Straight off the National Consumer Law Center’s website:

HAMP Mortgage Modification Litigation

NCLC, with its co-counsel, has brought four class action suits on behalf of Massachusetts residents to challenge the failure of Wells Fargo Bank , Bank of America , J.P. Morgan Chase Bank and IndyMac Mortgage Servicers/OneWest Bank to honor their agreements with borrowers to modify mortgages and prevent foreclosures under the United States Treasury’s Home Affordable Modification Program (“HAMP”). The complaints are filed with the United States District Court for the District of Massachusetts and assert claims for breach of contract, breach of the implied covenant of good faith and fair dealing and promissory estoppel under Massachusetts common law arising from the financial institution’s alleged failure to keep its promises to modify eligible loans to prevent foreclosures against homeowners who have lived up to their end of the bargain as required by HAMP.

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