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JPMorgan Bank and Trust Company, National Association

Based on 2 reviews
JPMorgan Bank and Trust Company, National Association
Overview / Commentary
560 Mission Street
San Francisco, CA 94105

JPMorgan Bank and Trust Company, National Association is headquartered in San Francisco and is the 12st largest bank in the state of California. It is also the 128th largest bank in the nation. It was established in 2008 and as of June of 2014, it had grown to 2 employees at 1 location. JPMorgan Bank and Trust Company, National Association has a B+ health rating.

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Reviews (2)

Time Line

 

Time line

1.      2006 -- Mortgage payment is on direct payment  $477.78

2.      1/2007 – Washington Mutual requested a payment of $576.83, a $99.05 difference.  The payment was made.  The direct payment was still set up but WaMu made no other requests for payment.   I have the bank statements to show this.    

3.      2008 – Washington mutual was absorbed by Chase.  Chase did not acknowledge the existence of the mortgage. 

4.      2010 – I discovered the mortgage payments were not being made.  I tried to tell Chase; it took 3 trips to the bank.  They denied there was a delinquency. 

5.      The manager gave me her card with the account number they were taking payments from.  It was not my daughters account.  I still have the card.

6.      Chase has sent emails thanking daughter for payments of  $1,276.72 she did not make.  I have copies of the emails.

7.      2911 - Suzyn did not have a copy of the mortgage or note I started requesting a copy from the bank.  They could not produce one.

8.      We received letters for a year requesting time to do more research.  Did they or did they not service the mortgage? 

9.      2012 - Chase offered to modify her mortgage; taking the payment from $477.78 up to $900.  Suzyn is disabled and receives $1,025 per month

10.  12/24/2012 - We received foreclosure papers from Citimortgage using copies of the note and mortgage, and to top it off, the note has a robo-signature.    

11.   8/27/13 – Chase representative is now claiming they have had the mortgage since 2004 

12.   8/28/13 we are still getting “We need more time to do research” letters.

From the start of 2007 until 2011, 4 years, neither Washington Mutual nor Chase was aware of the lack of payments.  Was the mortgage sold by Washington Mutual as part of a package in an attempt to prevent its own failure?  Was the $99.05 to close out their books?

 

Given the banking scandals of the time, and the conduct of both Washington Mutual and Chase, and the number of times they have been found guilty in court of some kind of misconduct, I had strong doubts as to just “who” actually held the mortgage.

I also wonder if Chase has ever reimbursed the account they said they were taking payments from?  Did the person who’s $1,276.72 payments we were getting credit for lose their home?     

 

Any bank that behaves like this is not too big to fail…it is too big to function.

Beware Of Extended Transaction Fee $15 By Chase Bank

With Chase Bank, after and upon a credit card recurring payment which may take upto 3 days to clear, there is a extended transaction fee of $15 over and beyond a non sufficient fee of $35 if you do not bring your balance back to positive within the required days.(usually 3 days not including weekends). Therefore, a signature transaction might actually end up costing you a lot more than originally intended.(especially if u r single and traveling overseas). I had chosen to opt out of overdraft protection before august 15th but that does not apply to recurring credit card signature payments.I would like someone to help me fight this with one of the federal bureau agencies (most likely FDIC or OCC).I figured when you opt-out of credit card overdraft protection that all credit card transactions are subject to being denied including recurring credit card payments for not having enough funds. I have been proven wrong and i have documents to prove chase has charged me non-sufficient as well as extended days non-sufficient fund fees.



Health

Data for Q2 2014

Institution Health

B+

Texas Ratio

GRADE:
C+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 JPMorgan Bank and Trust Company, National Association had $378.94 million in non-current loans and owned real-estate with $1.57 billion in equity and loan loss allowances on hand to cover it. This gives JPMorgan Bank and Trust Company, National Association a Texas Ratio of 24.14% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for JPMorgan Bank and Trust Company, National Association decreased slightly from 29.07% as of June 30, 2013 to 24.14% as of June 30, 2014, resulting in a positive change of 16.96%.This indicates that the balance sheet and financial strength for JPMorgan Bank and Trust Company, National Association has improved slightly in recent periods.

Deposit Growth

GRADE:
B

In the past year, JPMorgan Bank and Trust Company, National Association has increased its total deposits by $45,000, resulting in 0.18% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth JPMorgan Bank and Trust Company, National Association has shown is above average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. JPMorgan Bank and Trust Company, National Association has $7.91 billion in assets with $1.57 billion in equity, resulting in a capitalization level of 19.86%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #58729
Year Established2008
Employees2
Primary RegulatorOCC
Assets and Liabilities
Assets$7.91 billion
Loans$6.07 billion
Deposits$25.15 million
Equity Capital$1.49 billion
Loan Loss Allowance$82.00 million
Unbacked Noncurrent Loans$367.22 million
Real Estate Owned$11.72 million
Historic Data - June 2013
Assets$9.98 billion
Equity Capital$1.45 billion
Loan Loss Allowance$100.00 million
Unbacked Noncurrent Loans$367.22 million
Real Estate Owned$11.39 million
Profit Margin - Quarterly
Return on Assets1.84%
Return on Equity9.96%
Interest Income$156.73 million
Rates

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Locations


JPMorgan Bank and Trust Company, National Association Locations
Jpmorgan Bank and Trust Company, National Associat560 Mission StreetSan Francisco, CA 94105