Syncora Guarantee Inc v. EMC Mortgage Corp | JPMorgan must face claims over home equity loans

Categorized | STOP FORECLOSURE FRAUD

Syncora Guarantee v. EMC | JPMorgan must face claims over home equity loans

Syncora Guarantee v. EMC | JPMorgan must face claims over home equity loans

This is getting interesting. You can also read more on this here and here.

 

REUTERS-

A Manhattan federal judge has decided against JPMorgan Chase & Co in a lawsuit over losses on securities backed by risky home equity loans, a ruling that could strengthen claims by insurers seeking to hold banks responsible for such losses.

U.S. District Judge Paul Crotty said on Tuesday that Syncora Guarantee Inc, which claimed losses from insuring securities created by JPMorgan’s EMC Mortgage Corp unit, need not prove that alleged warranty breaches caused the underlying loans to default in order to force EMC to buy back the underlying loans.

Crotty also said Syncora can establish a material breach of contract by showing that breaches of representations and warranties by EMC caused a material increase in risk. He declined to award equitable relief.

[REUTERS]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8609 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “Syncora Guarantee v. EMC | JPMorgan must face claims over home equity loans”

Trackbacks/Pingbacks

  1. […] said lets move over and let JPMorgan have at em’ […]


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com

Archives