JP Morgan Chase & Co.'s attempt to dismiss claims in a lawsuit over its mortgage modification program was rejected by U.S. District Judge Richard Stearns in Boston, Bloomberg News reported yesterday. Judge Stearns turned down JPMorgan's request to have some claims dismissed for lack of jurisdiction and failure to state a claim, according to a court filing on July 27. The litigation consolidates lawsuits brought by homeowners in more than a dozen states that claim JPMorgan made "false and misleading promises" about modifications to their mortgages. The homeowners also claim that the bank foreclosed on some homes despite promises they could stay in them while new payment terms were being negotiated.
