"California will be a big beneficiary of the Justice Department's record breaking settlementof $13 billion with JPMorgan Chase & Co., announced on Tuesday. The penalty came after state and federal agencies raised allegations against the lender's practices in mortgage-backed securities. Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA, said he thinks state agencies may reach out to individuals who are in danger of foreclosure and offer some mortgage modification, such as interest rate relief..."
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