CEO Jamie Dimon - Articles - Zimbio

Do Loan Modification Companies Work?

Fri, 16 Aug 2008 01:28:00 GMT

posted by rickzepeda
Loan modifications can save your home but make sure you know who is on your side first. Here is is list of mortgage companies which are in the U.S. You can start the process if you lender is on this list by asking for mortgage assistance. However, It's always smart to talk to a third party as well to know your options. Many people start by talking to an attorney and having them do all the paperwork. This is very helpful because an attorney is on your side, they are working for you and have your best interests. If you would like to know the secrets to successful loan modification help and strategy, please request free loan modification strategy eBook This is a really great way to learn your options and decide if this is right for you.

Mortgage Company Loan Modification Phone Number and Website

Aurora Loan Services 800-550-0509 myauroraloan.com
Avelo Mortgage L.L.C. 877-882-8356 www.avelomortgage.com
Bank Of America 800-846-2222 bankofamerica.com
Carrington Mortgage Services, LLC 800-790-9502 myloan.carringtonms.com
CitiFinancial / Citi Trust Bank 800-422-1498 N/A
Countrywide Home Loans 800-669-6650 countrywide.com
Citi Mortgage 800-677-8424 N/A
EMC Mortgage / Bear Stearns 877-362-6631 emcmortgageservicing.com
First Horizon Home Loans 800-364-7662 firsthorizon.com
GMAC / Homecomings 800-799-9250 homecomings.com
gmacmortgage.com
Home Loan Services 800-622-5035
ext. 24267 viewmyloan.com
nationpoint.com
HomEq Servicing 877-867-7378 www.homeq.com
HSBC Consumer Lending 800-333-5848 www.beneficial.com
HSBC Mortgage Services 800-365-6730 hsbcmortgageservices.com
HSBC Mortgage Corporation 888-648-3124 www.us.hsbc.com
Indymac Bank 800-880-6848 www.imb.com
JP Morgan Chase Prime Loans 800-446-8939 www.chase.com
JP Morgan Chase Non Prime 877-838-1882 N/A
JP Morgan Chase Home Equity 866-582-5208 N/A
Land America Lender Services 800-909-9525 customersupport
@myloancare.com
Litton Loan Servicing 800-999-8501 www.littonloan.com
National City Mortgage Company 800-523-8654 nationalcitymortgage.com
Nationstar Mortgage LLC 888-480-2432 customer.service@
nationstarmail.com
Ocwen Loan Servicing, LLC 877-596-8580 ocwencustomers.com
Option One Mortgage Corporation 888-275-2648 optiononeonline.com
Saxon Mortgage / Morgan Stanley 888-325-3502 www.saxononline.com
Select Portfolio Servicing, inc. 800-258-8602 www.spservicing.com
SunTrust Mortgage 800-443-1032 www.suntrustmortgage.com
Washington Mutual 866-926-8937 www.wamu.com
Wells Fargo Home Mortgage 877-216-8448 www.wellsfargo.com
Wells Fargo Financial 800-275-9254 financial.wellsfargo.com
Wilshire Credit Corp. / Merrill Lynch 888-917-1050 N/A

This is the list, don't put it off. Get help and get started with your loan modification help with questions and answers FAQ section.

JP Morgan Chase Bank v Springwell Navigation Corpn

Sun, 18 Aug 2008 18:56:12 GMT

posted by BusinessTeacher
JP Morgan Chase Bank v Springwell Navigation Corpn [2005] EWHC 383 (Comm), [2005] All ER (D) 266 (Mar) Court: Comml Ct Judgment

JP Morgan Joins Wells Fargo

Wed, 17 Jul 2008 19:56:00 GMT

posted by nq792000
Looks like in banking it is now a two horse race. JP Morgan (JPM) reported today and like Wells Fargo (WFC) yesterday, investors were undoubtedly pleased.

From the Release:
JPMorgan (JPM) today reported 2008 second-quarter net income of $2.0 billion, compared with net income of $4.2 billion in the second quarter of 2007. Earnings per share of $0.54 were down 55%, compared with earnings per share of $1.20 in the second quarter of 2007. Current-quarter results include the effect of merger-related items amounting to a net loss of $540 million (after-tax) related to the acquisition of The Bear Stearns Companies Inc., which closed on May 30, 2008. Excluding these items, net income would have been $2.5 billion.

Jamie Dimon, Chairman and Chief Executive Officer, commented on the quarter: “Our earnings were down significantly due to the unfavorable credit environment and market conditions. The Investment Bank took additional markdowns on leveraged loans and mortgage-related positions. Retail Financial Services experienced further deterioration in its home lending portfolio, which resulted in higher charge-offs and an increase in the allowance for credit losses. However, the firm overall continued to maintain solid underlying business momentum. We had market share gains in Investment Banking fees and key product areas. Retail Financial Services posted organic revenue growth of 15%, and all of our major businesses produced growth in accounts, balances and volumes. Further positive results in the quarter included record performance from both Commercial Banking and Treasury & Securities Services.”

Mr. Dimon added, “We also completed the highly complex Bear Stearns acquisition as planned. Through the truly remarkable partnership and efforts of our people in extremely difficult times, we made great progress towards full integration, while also significantly reducing our combined risk positions. We now have an expanded platform to better serve our institutional clients – one which we fully expect will make our franchise stronger over time.”

Mr. Dimon further remarked, “I am pleased with the strength of our balance sheet and capital positions, particularly in the context of the market challenges we have faced during the past year. During the quarter, we added $1.3 billion to our allowance for credit losses (which now totals $13.9 billion) and maintained strong capital ratios.”

Discussing the firm’s outlook, Dimon said, “Our expectation is for the economic environment to continue to be weak – and to likely get weaker – and for the capital markets to remain under stress. We remain conscious that since substantial risks still remain on our balance sheet, these factors will likely affect our business for the remainder of the year or longer. However, the firm has delivered underlying growth across most of our businesses, and with our substantial capital base we can continue to invest for the future. In spite of the environment, we are confident that we are building an increasingly strong and profitable company.”

Dick Bove said:

Bove is right, Dimon is tempering expectations as there is still some ambiguity out there. Rather than thump his chest and make flashy predictions, Dimon reminds people it is tough out there.

Now here is the good part for shareholders. Because of his superior management ability, like Sherwin Williams (SHW) and Harley Davidson (HOG) earlier today results were not nearly as bad as expected. Poor operating environments will inevitably lead to earnings decline but superior management will soften the losses compared to peers while positioning the company to take advantage of the eventual economic rebounds.

Meanwhile people over0react to the operating environment forgetting the superior management and thus "value" investing opportunities are created....

Disclosure ("none" means no position):Long WFC, SHW, HOG, None

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JP Morgan Chase: "best track record" despite 52% profit drop

Wed, 17 Jul 2008 14:11:00 GMT

posted by marykittneel

Despite a 52% drop in profits for the second quarter, JPMorgan Chase outperformed its competitors, even after stepping in and taking over Bear Stearns in March.

The reason? It shied away from sub-prime mortgage investments and posted strong results in commercial banking and treasury investments. That meant that instead of earning 44 cents per share - as Wall Street expected - they posted net income of 54 cents per share.

But it isn't all beer and skittles at JPMorgan Chase, however. Over the same time period in 2007, the bank made $1.20 per share. And, quite naturally, acquisition of ailing former giant Bear Stearns took a chunk of change: $540 million during the second quarter.

Today, financial types will wait with bated breath for Merrill Lynch to announce a quarterly loss that could go as high as $1.8 billion. However, Merrill Lynch is planning to sell its 20% stake in Bloomberg L.P. to ... wait for it ... New York mayor Michael Bloomberg for about $4.5 billion. That means that Bloomberg's happy little financial data company is worth something like $22.5 billion. It should also make Merrill Lynch feel a little lighter on its feet during what's turning into a painful year.

JP Morgan Chase Bank New York.

Mon, 27 May 2008 02:44:00 GMT

posted by TahuBund3r

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