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March 16, 2009
A mortgage fraud lawsuit has finally been settled between one of the few mortgage lending behemoths and a group of alleged fraud victims.
A long-running lawsuit between JPMorgan Chase & Co. mortgage unit and numerous Poconos borrowers tracked by MortgageDaily.com has been put to rest with a settlement of unknown terms.
The case was originally filed against the lender and another related case against Gene P. Percudani. Percudani and his companies, Chapel Creek Homes, Raintree Homes and Chapel Creek Mortgage Banker were accused of inflating values by as much as 40 percent over the true market value.
Read the rest of the saga at MortgageDaily.com
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