NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION LAWSUIT RELATED TO YOUR JPMORGAN CHASE LOAN MODIFICATION

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1 NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION LAWSUIT RELATED TO YOUR JPMORGAN CHASE LOAN MODIFICATION You have received this Notice because you were identified as someone who may be eligible to receive valuable benefits, including a new opportunity to apply for a loan modification on your home mortgage loan. These benefits are provided under the proposed settlement of a class action lawsuit as described below. You are eligible for benefits because you had a stated-income trial period plan during the relevant time period that was not converted to a permanent modification or had a request for a permanent modification denied. THIS NOTICE COULD AFFECT YOUR RIGHTS PLEASE READ IT CAREFULLY A court authorized this Notice. This is not a solicitation from a lawyer. PARA UNA TRADUCCIÓN AL ESPAÑOL DE ESTE AVISO, POR FAVOR CONSULTE The United States District Court for the District of Massachusetts (the Court ) authorized this Notice. This Notice is a summary of a proposed settlement of a class action lawsuit titled In re: JPMorgan Chase Mortgage Modification Litigation, MDL Docket No ( Chase Mortgage Modification Lawsuit ). Many individuals (the Plaintiffs ) sued JPMorgan Chase and certain other parties (collectively, Chase or Defendants ), claiming that the Defendants failed to offer them timely and proper Permanent Loan Modifications after they completed Trial Period Plans under HAMP or Chase s own equivalent programs. Cases on these issues from around the country were consolidated in the Court in In summary, Plaintiffs alleged that Defendants are liable for breach of contract, unfair trade practices, and certain other related violations of law. Plaintiffs sought loan modifications and/or damages and certain other relief. Defendants have denied all allegations of wrongdoing and contend that they fully complied with the law. More information about the Chase Mortgage Modification Lawsuit and a copy of the complete Settlement Agreement is available on the settlement website: If you have your own attorney, you may wish to have him or her review this Notice to get advice about how to proceed. This is particularly true if you have litigation pending on any subject including mortgage modification and/or foreclosure against Chase. The following is a summary of the Settlement and of your rights. Who is a Settlement Class Member? You are a Settlement Class Member if: (1) your loan is serviced by Chase and you participated in a stated-income Trial Period Plan ( TPP ) extended by Chase under the Home Affordable Modification Program ( HAMP ) and/or under another non-hamp modification program, and (2) you made timely and sufficient trial payments required by the TPP, and (3) your property has not been foreclosed, and (4) you have either (a) not received a permanent loan modification eligibility decision since the start of your trial period described in your stated-income TPP, or (b) you did receive an eligibility decision denying the loan for permanent modification during or after your trial period described in your stated-income TPP, and (5) you are not currently a debtor in bankruptcy proceedings. Chase s records reflect that you may be a member of the Settlement Class. CHMNOT2

2 What are the terms of the proposed Settlement? The complete terms of the proposed Settlement are set forth in a formal Settlement Agreement (the Agreement ) which is on file with the Court, and which is also available on the settlement website at: This Notice is only a summary of the Settlement, and in case of any conflict between this Notice and the Agreement, the terms of the Agreement will control. In the proposed Settlement, Defendants have agreed to: Provide an opportunity for new loan modification applications based on your current circumstances; Provide paid counseling assistance from qualified, independent, non-profit organizations to assist you if you choose to apply; Provide foreclosure stays, in most circumstances, to prevent foreclosure while you apply; Waive certain previously assessed fees and costs if your new application is approved and you agree to a loan modification; and Pay certain attorneys fees and representative plaintiffs awards to Settlement Class Counsel and Plaintiffs, respectively. Payment of these fees and awards will not reduce the benefits available to you in the settlement. You will not receive a cash payment in connection with this settlement, but rather an opportunity for relief that may make your mortgage payments more affordable and/or resolve any delinquency. If the Settlement receives final approval from the Court, you will receive an Invitation Letter from Chase explaining how to apply for mortgage modification relief through a dedicated 800 number that you can call to receive information about how to submit the documents and information required, as well as more detailed information about how to access free counseling services. If you need to prevent a foreclosure sale before you receive the Invitation Letter, you may contact the Settlement Administrator at Chase Mortgage Modification Litigation, P.O. Box 43223, Providence, RI or by calling to obtain information about what you need to do to temporarily stop the foreclosure sale. You also may seek assistance from one of the attorneys representing the class. Their addresses and addresses are listed below. The settlement benefits are further summarized below. The Invitation Letter. If the Court finally approves the Settlement, you will receive an Invitation Letter no later than 75 days after the settlement becomes effective. The Invitation Letter will explain the process for making a new application for a mortgage modification based on your current circumstances. If you make an application, modifications will be considered under all available programs under current applicable program guidelines. Application and Consideration for a Mortgage Modification. To be eligible for the additional review for a loan modification, you will be required to contact Chase through the 800 number provided in the Invitation Letter. You will then be required to provide to Chase certain requested information and documents within 30 days from the date of the Invitation Letter. Chase will extend that time period by 15 days, if you can show reasonable cause for that extension. If you timely return the requested information and documents, but Chase determines that it requires additional information or documents to complete its evaluation, Chase will so notify you within 30 days of receiving the original information and materials from you. Chase will give you 30 days to provide the requested additional material. If you do not meet that deadline, Chase will extend that time period by 15 days. Chase will conclude its evaluation for the loan modification within 30 days of timely receiving all the information and documents from you that it requires to conduct the evaluation. Upon reaching its decision regarding your eligibility for a loan modification, Chase will notify you of the decisions, as well as any counselor or attorney whom you have authorized in writing, within 40 days of timely receiving all the necessary information and documents that Chase requires to conduct the evaluation. You may be required to participate in a trial period or similar process before obtaining a permanent loan modification

3 Counseling Assistance. If the Settlement is approved, free counseling assistance will be available from one of two independent, national, non-profit counseling organizations, HomeFree USA and National Council of La Raza. Chase will pay for as many as 50 hours of free counseling assistance upon request, and possibly more in cases of demonstrated need. The Invitation Letter will provide more information about how to access housing counseling benefits. Other Relief. There is no charge for applying for a loan modification under the Settlement Agreement. If you are in foreclosure and make an application, Chase will provide a Foreclosure Hold that will prevent a foreclosure judgment or sale until your application is fully resolved, as long as you comply with your obligations to be considered for a modification, such as responding within the requested time periods and providing the requested information and documents. In addition, if you receive a modification, certain fees and costs previously assessed will be waived. Other fees and costs will be addressed through the modification process. You will also have a right to appeal any decision to deny your loan modification application. Relationship to Other Settlements. You are not prevented from participating in other settlements, including government settlements like the National Mortgage Settlement, by virtue of the settlement of this case. Attorneys Fees and Class Representative s Awards. Plaintiffs counsel will ask the Court to award them up to $9,500,000 in attorneys fees and costs, and to award each of the Class Representatives $3,500 for their service to the class. Plaintiffs counsel will file that request, along with all supporting documents, by February 14, By February 14, 2014, the request and all supporting papers will be available for your review on the settlement website at The Court will determine the appropriate amount of the attorneys fees and awards to be paid. The Settlement is not conditioned upon approval of any of the attorneys fees, costs, or incentive award amounts. Plaintiffs counsel expect to assert that the requested fees represent less than half of the total amount of time and expense they have jointly invested in the Chase Mortgage Modification Lawsuit. You are not required to make any payments to Class Counsel in this action. Who Represented Me? The following Plaintiffs have or had mortgage loans that were serviced by Chase and also sought (or sought and obtained) permanent loan modifications from Chase: Evan Burkholder, Joyce Clapham, William Clapham, Jacquelyn Colletta, Samuel Colletta, Bryan Ellis, Christine Ellis, Donna Follmer, Sharie Green, John Hanf, Kathleen Hanf, Sharon Hayes, Thomas Hayes, Michelle Hood, Robert Hood, Christopher Jerram, Renee Jerram, Amy Keller, Scott Keller, Garrett Larkin, Linda Larkin, Natalie Layman, Jean Licata, Susan Mason, Arsenia Rodrigues, Linda Ross, Ronald Ryan, Donald Treannie, Heather Treannie, Kelly Turbeville, Mark Venuti, and Daniel Ware. These are some of the borrowers who filed this action against Chase. They have asked that the Court appoint them to represent all Class Members, including you, in this case. Part of the Settlement provides that the individuals listed above will each receive incentive payments of $3,500, subject to the Court s approval, for their participation in the case as class representatives. The Court approved the law firms listed below under More Information Is Available to represent you and the other Settlement Class Members as lead counsel. Additionally, the Court also approved the counsel listed on Exhibit 1 to the Settlement Agreement, which is available for review at to represent you in this matter. What Happens Next? The Court will hold a Final Fairness Hearing on May 7, 2014, at 10:00 a.m. at the United States District Court for the District of Massachusetts, 1 Courthouse Way, Courtroom #21, Boston, MA 02210, to hear any objections and to consider whether to give final approval to the Settlement. The Court will hear objections at the hearing only from those who timely object to the Settlement, as described below. You may participate in the Final Fairness Hearing with or without an attorney, but if you choose to be represented by an attorney, you must do so at your own expense. YOU DO NOT HAVE TO APPEAR AT THE HEARING TO RECEIVE THE BENEFITS OF THE SETTLEMENT

4 What Are Your Options? Participate in the Settlement. If you wish to remain a part of the Settlement, you do not have to do anything now. You automatically will be eligible for the settlement benefits if the Court approves the Settlement. Opt Out of the Settlement. If you choose to exclude yourself, or opt out, of the Settlement, you must send a written statement to the Settlement Administrator that includes: (1) your name, address, and telephone number; (2) the address of the property securing your mortgage loan(s); (3) the account number of your Chase mortgage loan(s); and (4) the following statement: I request to be excluded from the Settlement in Chase Mortgage Modification Litigation, United States District Court, District of Massachusetts, MDL No You must personally sign your written optout statement and mail it postmarked no later than March 18, 2014, to the following address: Chase Mortgage Modification Litigation P.O. Box Providence, RI If you do not opt out, you will be bound by this Settlement. Object to the Settlement. You may remain a member of the Settlement Class, but object to the terms of the Settlement. You may object to all or any portion of the Settlement at the Final Fairness Hearing, but you must first explain your objections in writing. All objections must include: (1) your full name, current address, and telephone number; (2) your Chase loan number; (3) a statement of the position you wish to assert, including the factual and legal grounds for the position; (4) the names and a summary of testimony of any witnesses that you intend to call in connection with the objection; (5) copies of all documents that you wish to submit in support of your position; (6) the name(s) of any attorney(s) representing you; and (7) the name, court, and docket number of any class action litigation in which you or your attorney(s) has previously appeared as an objector or provided legal assistance with respect to an objection. To be considered, objections must be: (1) mailed to the attorneys handling the case for each side (listed below) and postmarked no later than March 18, 2014; and (2) filed with the Court, or postmarked to the Court for filing, no later than March 18, The addresses are: Counsel for Plaintiffs Gary Klein Klein Kavanagh Costello, LLP 85 Merrimac St., 4th Floor Boston, MA Charles E. Schaffer Levin, Fishbein, Sedran & Berman 510 Walnut Street, Suite 500 Philadelphia, PA Counsel for Defendants Michael J. Agoglia Morrison & Foerster LLP 425 Market Street San Francisco, CA The Court Clerk, United States District Court for the District of Massachusetts 1 Courthouse Way, Suite 2300 Boston, MA You have the right to consult with your own attorney, at your own expense, before deciding how best to proceed

5 What am I agreeing to by remaining in the Settlement Class in this case? If the Settlement receives final approval from the Court, the Settlement will be legally binding on all Settlement Class Members, including Settlement Class Members who object. If you, or someone acting on your behalf, are currently litigating claims against Defendants or other released parties that are the same as or similar to those addressed here, you will be barred from pursuing the claims released by the Settlement unless you validly opt out, as described above. The full terms of the release, which will bind all Settlement Class Members as to certain claims against the Defendants and certain affiliates and related entities ( Released Parties ), are set forth in the Settlement Agreement, which is on file with the Court, and which is available on the settlement website at: Unless you exclude yourself, you will be part of the Settlement Class, and that means that any claims you have about Chase s consideration of, and other conduct in connection with, your request to have your home mortgage loan modified will be fully and completely resolved, and that you cannot sue, continue to sue, or be part of any other lawsuit against Chase about Chase s handling of your request for a loan modification. It also means that the Court s Orders approving the Settlement and the judgment in this case will apply to you and legally bind you. If you want to keep the right to sue or continue to sue Chase, on your own, about Chase s handling and consideration of your request for a loan modification, you must exclude yourself from the Settlement Class in this case. If you exclude yourself, as set forth above, you will not receive an Invitation Letter or any other benefits of the Settlement, as described above. The operation of the release may limit the defenses you have in foreclosure and may prevent you from bringing various affirmative claims against the Defendants, including JPMorgan Chase. More Information Is Available This Notice is only a summary of the Settlement and the Agreement. If you have questions regarding the Settlement, you may contact Class Counsel at: Gary Klein, Klein Kavanagh Costello, LLP, 85 Merrimac Street, 4th Floor, Boston, MA 02114, ChaseSettlementInfo@kkcllp.com; Gretchen Freeman Cappio, Keller Rohrback L.L.P., 1201 Third Avenue, Suite 3200, Seattle, WA 98101, MDL2290ClassSettlement@kellerrohrback.com; Charles Schaffer, Levin, Fishbein, Sedran & Berman, 510 Walnut Street, Suite 500, Philadelphia, PA 19106, ChaseSettlementInfo@lfsblaw.com; or Michael Flannery, Cuneo Gilbert & LaDuca, LLP, 507 C Street, NE, Washington, DC 20002, ChaseSettlementInfo@cuneolaw.com. You may also contact the Settlement Administrator at: Chase Mortgage Modification Litigation, P.O. Box 43223, Providence, RI You may also call to hear pre-recorded answers to frequently asked questions (FAQs). You may also review the Court s file during regular court hours at: U.S. District Court for the District of Massachusetts 1 Courthouse Way, Suite 2300 Boston, Massachusetts You may also view additional information, including the Settlement Agreement, and copies of other relevant documents and Court Orders, at the settlement website at PLEASE DO NOT TELEPHONE THE COURT, THE JUDGE, OR THE CLERK OF THE COURT. Dated: December 6, 2013 /s/ Richard G. Stearns Hon. Richard G. Stearns UNITED STATES DISTRICT JUDGE DISTRICT OF MASSACHUSETTS - 5 -

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