Bank of America Corp. (BAC), JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and five other mortgage servicers will have to meet a July 13 deadline to submit remedial plans for their foreclosure practices while federal and state officials continue working on broader settlement terms.
“That deadline is still on track, as broader negotiations continue,” said Jessica A. Smith, a spokeswoman for the Department of Justice, which is coordinating talks among lenders, U.S. housing officials and state attorneys general. “The banks’ action plans have been significantly shaped by the detailed negotiations that continue to take place with federal authorities and state attorneys general.”
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