US Office of the Comptroller of the Currency Terminates Mortgage Servicing-Related Consent Orders against JPMorgan Chase and EverBank and Issues Civil Money Penalties
 

The US Office of the Comptroller of the Currency terminated mortgage servicing-related consent orders against JPMorgan Chase Bank, N.A. and EverBank, determining that the banks are now in compliance with the orders. As a result, business restrictions affecting JPMorgan and EverBank that were previously mandated by amendments to the original orders have also been lifted. The OCC also assessed a $48 million civil money penalty against JPMorgan and a $1 million civil money penalty against EverBank for previous violations of the orders. According to the OCC, JPMorgan engaged in filing practices in bankruptcy courts with respect to payment change notices that did not comply with bankruptcy rules and constituted unsafe or unsound banking practices. EverBank violated a 2011 consent order by improperly charging fees related to mortgage electronic registration system assignments, property inspections, and late fees to approximately 47,000 borrowers.

View the OCC press release.

View the termination for JPMorgan.

View the termination for EverBank.