S&A CAPITAL PARTNERS, INC. v JPMORGAN CHASE BANK, N.A et al| Breach of Contract...Plaintiffs purchased 3,529 first lien residential mortgage loans and approximately 1000 first lien and second lien residential mortgage loans from the Defendants

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S&A CAPITAL PARTNERS, INC. v JPMORGAN CHASE BANK, N.A et al| Breach of Contract…Plaintiffs purchased 3,529 first lien residential mortgage loans and approximately 1000 first lien and second lien residential mortgage loans from the Defendants

S&A CAPITAL PARTNERS, INC. v JPMORGAN CHASE BANK, N.A et al| Breach of Contract…Plaintiffs purchased 3,529 first lien residential mortgage loans and approximately 1000 first lien and second lien residential mortgage loans from the Defendants

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

S&A CAPITAL PARTNERS, INC.,
MORTGAGE RESOLUTION SERVICING,
LLC; and 1ST FIDELITY LOAN
SERVICING, LLC,
Plaintiffs

v.

JPMORGAN CHASE BANK, N.A.,
JP MORGAN CHASE & COMPANY, and
CHASE HOME FINANCE LLC
Defendants.

No. 1 :15-cv-00293-LTS-JCF

THIRD AMENDED COMPLAINT
JURY TRIAL DEMANDED

Plaintiffs S&A Capital Partners, Inc. (“S&A”), Mortgage Resolution Servicing, LLC
(“MRS”), and 1st Fidelity Loan Servicing, LLC (“1st Fidelity”)(together, the “Plaintiffs”), for
their third amended complaint against JPMorgan Chase Bank, N.A., JPMorgan Chase &
Company, and Chase Home Finance LLC (together “JPMC” or the “Defendants”), allege as
follows:

NATURE OF THIS ACTION

1. This action arises out of the breach by the Defendants of various contracts entered
into with the Plaintiffs including a mortgage loan purchase agreement dated February 25, 2009
between MRS and Chase Home Finance LLC (the “MLPA”).

THE PARTIES

Plaintiffs:

2. S&A is a Florida corporation located at 6810 N. State Rd. 7, Coconut Creek,
Florida 33073, whose President is Laurence Schneider. S&A has been acquiring mortgaged
loans and pools of loans from numerous lenders, servicers and mortgage insurance companies
since 2003. From 2005 -2010, S&A purchased approximately 650 first lien and second lien
residential mortgage loans from the Defendants.

3. MRS is a Florida limited liability company located at 6810 N. State Road 7,
Coconut Creek, Florida 33073, whose managing member is Real Estate and Finance, Inc., a
Florida corporation whose President is Laurence Schneider. On February 25, 2009, MRS entered
into a purchase agreement to purchase a pool of 3,529 first lien residential mortgage loans from
the Defendants and paid full consideration for the loans.

4. 1st Fidelity is a Florida limited liability company located at 6810 N. State Rd. 7,
Coconut Creek, Florida 33073, whose managing member is Real Estate and Finance, Inc., a
Florida corporation whose President is Laurence Schneider. 1st Fidelity has been acquiring
mortgage loans and pools of loans from numerous lenders, servicers and mortgage insurance
companies since 2008. From 2008 to 2010, 1st Fidelity purchased approximately 350 first lien
and second lien residential mortgage loans from the Defendants.
Defendants:

5. JPMorgan Chase Bank, N.A. (the “Bank”) is a national banking association and a
wholly-owned subsidiary of JPMorgan Chase & Company. The Bank’s principal place of
business is at 270 Park Avenue, New York, New York. On September 25, 2008, the Bank
purchased substantially all of the assets and assumed substantially all of the liabilities of
Washington Mutual Bank, F.S.B. pursuant to a Purchase and Assumption Agreement with the
FDIC as Receiver for Washington Mutual Bank, F.S.B.

6. JPMorgan Chase & Company (“JPMC”) is a Delaware corporation with its
principal place of business at 270 Park Avenue, New York, New York. In July 2004, JPMC                                     merged with Bank One. One or more of the Plaintiffs acquired from JPMC residential mortgage
loans that JPMC had acquired from Bank One loans. As owner of the loans sold to the Plaintiffs,
JPMC is liable for all of the damages sought herein.

7. Chase Home Finance, LLC (“Chase”) was a Delaware limited liability company
that offered mortgage and loan services, with its principal place of business at 343 Thornall
Street, Edison, New Jersey 08837. Prior to May 1, 2011, Chase was qualified to do business in
New Jersey. Effective May 1, 2011, Chase merged into the Bank which now owns and services
the residential mortgage loans previously owned by Chase. The Bank stands in the shoes of
Chase and is liable for all of the damages sought herein.

[…]

12. The Plaintiffs’ goal is to work out reasonable and sustainable payment plans with
the borrowers so that they can retain their homes.

[…]

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