St. Louis-based complex litigation firm Holland Groves is pleased to announce that final approval has been granted to a class action settlement arising out of JPMorgan Chase’s implementation of the Home Affordable Modification Program (HAMP), one of the many programs designed to assist struggling homeowners in the economic downturn. In exchange for receiving billions of dollars in TARP funds, JPMorgan Chase and many other big banks agreed to offer homeowners loan modifications pursuant to newly enacted federal guidelines. Numerous individuals sued JPMorgan Chase and certain other related companies claiming that Chase failed to offer them a timely and proper permanent mortgage modification after they completed trial period plans under HAMP or Chase’s own equivalent programs. Holland Groves attorneys Eric Holland and Seth Crompton, along with co-counsel firms, filed one of the earliest cases in the country, Turbeville vs. Chase, et al., in federal court in Los Angeles, California and obtained favorable rulings when Chase attempted to dismiss the case at an early stage. Eventually, the Judicial Panel on Multidistrict Litigation (JPML) consolidated Turbeville with dozens of other similar cases in In re JP Morgan Chase Mortgage Modification Litigation, assigning the case to the United States District Court for the District of Massachusetts. Holland Groves partner Eric Holland was appointed by the court to the Plaintiffs’ Executive Committee and selected by his peers to chair the Plaintiff’s Discovery Committee, a major work that Seth Crompton headed up for the firm. Holland also served on the settlement team and helped negotiate a nationwide settlement of the consolidated litigation which will provide a broad range of benefits to tens of thousands of homeowners.
Holland Law Firm2014-05-12T14:18:00-05:00