JPMorgan Chase has announced a major expansion of its mortgage modification program, extending help to Washington Mutual and EMC homeowners. The bank will broaden its efforts to help home within the next 90 days, and will hold off further foreclosures during that time.

The plan includes the creation of 24 regional counseling centers and new financing choices. The bank will review all of its mortgages, and focus on homeowners who need the most help; the modifications will do away with negative amortization. “We will work with families who want to save their homes but are struggling to make their payments,” said Charlie Scharf, JPMorgan Chase CEO of retail financial services, in a statement. The expanded program is expected to impact 400,000 families with $70 billion in loans. Prior programs at JPMorgan Chase, WaMu and EMC have aided 250,000 families with $40 billion in loans since early last year.

In early October, Bank of America announced a “proactive home retention program” featuring lower interest rates and principal reductions for almost 400,000 Countrywide customers. Meanwhile, Treasury and Federal Deposit Insurance staffers reportedly continue to hammer a plan to help around three million homeowners facing possible foreclosure. 

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