Jepsen wants meeting with lenders

Jessica M. Karmasek Jul. 22, 2011, 1:20pm


HARTFORD, Conn. (Legal Newsline) - Connecticut Attorney General George Jepsen is looking to meet with four of the country's top lenders, concerned that their mortgage servicing falls short.

According to Bloomberg News, the attorney general wants to meet with Wells Fargo & Co., JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc.

In letters written to the companies, Jepsen said he is concerned that they are failing to "devote adequate resources" to default servicing of residential loans in his state.

The attorney general is in the process of scheduling meetings with at least two of the four lenders, Bloomberg reported.

In May, Jepsen sent a similar letter to Bank of America Corp., saying it must improve its aid of Connecticut borrowers.

In that letter, he alleged that his office, the state Department of Banking and the non-profit Connecticut Fair Housing Center have received multiple complaints from consumers whose loans are serviced by the bank.

State attorneys general, the U.S. Justice Department, Treasury Department and the new Consumer Financial Protection Bureau are currently negotiating a settlement with the five mortgage servicers.

From Legal Newsline: Reach Jessica Karmasek by email at

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Wells Fargo
402 Montgomery Street
San Francisco, CA 94104

Citibank Building, New York, NY, United States
New York, NY 10022

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