JPMorgan sued for $95 million over mortgage securities

posted by
January 3, 2012
Posted in News, PND News

"JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans. US Bank NA wants to force JPMorgan to buy back the mortgage loans because of alleged breaches of representations and warranties regarding the Bear Stearns Asset Backed Securities Trust 2005-4, for which it serves as trustee." [editor's note: Should be interesting to see how far the House of Morgan allows this to go - SAT] (01/03/12)  

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