Market Features

Foreclosures, F-22 Raptor: Hot Trends

Stock quotes in this article:JPM 

(Information on JPMorgan's foreclosure testimony and the missing F-22 Raptor fighter jet added to today's Hot Trends article.)

NEW YORK (TheStreet) -- "Foreclosures" is a popular search term today after a JPMorgan Chase(JPM) executive told Congress that employees "may have" signed affidavits without personally verifying the information.

>>>Foreclosure Crisis: What Bank Execs Say

David Lowman, the head of JPMorgan's mortgage division, presented a prepared testimony before the Senate Banking Committee on Tuesday in which he argued that bank employees are only human.

"We do not engage in a foreclosure sale if the modification succeeds or until the modification process fails," Lowman said. "That is not to say we are perfect -- we service millions of loans, and we sometimes do make mistakes. But when we find an error, we fix it."

Lowman's testimony at the Senate's hearing on "Problems in Mortgage Servicing From Modification to Foreclosure" came on the same day as a Congressional Oversight Panel report on the issues big banks are facing with foreclosures and mortgage-repurchase requests.


"F-22 Raptor" is a heavily searched phrase today on news that an an Air Force F-22 fighter jet has gone missing.

The Air Force has been searching for the aircraft since it lost contact with air traffic control at 11:40 P.M. ET on Tuesday while on a training mission. It originated from Joint Base Elmendorf-Richardson, a military facility near Anchorage, Alaska.

The F-22 Raptor carries one pilot but the Air Force has not released the pilot's name.


"Medicare patients" is a heavily searched topic today after a report from the U.S. Department of Health and Human Services showed that 15,000 hospitalized Medicare patients die every month due to treatment errors.

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