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New York-based Chase-the U.S. consumer and commercial banking business of JPMorgan Chase & Co, New York-announced in late October it will dramatically expand its existing mortgage-modification efforts, including extending its modification program to customers it inherited during the acquisition of Seattlebased Washington Mutual (WaMu) and Lewisville, Texas-based EMC Mortgage Corporation.
Under its expanded initiative, Chase will open regional counseling centers, hire additional loan counselors, introduce new financing alternatives, proactively reach out to borrowers to offer pre-qualified modifications and commence a new process to independently review each loan before moving it into the foreclosure process,...