Reuters | January 6, 2016 JPMorgan Chase has been fined $48 million for failing to meet terms of a settlement to resolve mortgage servicing violations, U.S. bank regulators said on Tuesday. The fine will be on top of $2 billion that JPMorgan had been ordered to pay to cover remediation costs and foreclosure assistance to borrowers, the Office of the Comptroller of the Currency said.
JPMorgan was among a number of banks that participated in a 2013 nationwide settlement with regulators over the practice of robo-signing, where banks pursued faulty foreclosures by using defective or fraudulent documents.
The OCC also said on Tuesday that EverBank will pay a $1 million fine for similar violations connected to the mortgage servicing case. Read more here.