When David Lowman, chief executive for JPMorgan Chase home-mortgage business, magnanimously told Barney Frank at a House Financial Services meeting yesterday that homeowners having trouble with their mortgages should “come to me,” he didn’t think, you know, that they’d actually do it. But then a couple of minutes later, according to CNBC, 50 borrowers burst from the audience and presented him with a document detailing Chase’s inadequate attempts to help struggling homeowners. Did he take it like a man?
“He ran. He ran like a dog with its tail between his legs,” said Bruce Marks of the Neighborhood Assistance Corporation of America (NACA), which helps homeowners avoid foreclosure. “He was scared to death because he doesn’t really want to talk to homeowners.”