JPMorgan sued for $95 million over mortgage securities - FORECLOSURE FRAUD

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JPMorgan sued for $95 million over mortgage securities

Posted on03 January 2012. Tags: , , , ,

JPMorgan sued for $95 million over mortgage securities

If investors were to open an investigation into each and every single one of the “trusts”, all hell would break!

Bloomberg-

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.

[BLOOMBERG]

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