JP Morgan Discloses Investigation of MBS Practices

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In its Form 10-Q filed with the SEC on August 7, JP Morgan Chase & Co. disclosed that it is responding to parallel criminal and civil investigations by the U.S. Attorney’s Office for the Eastern District of California relating to subprime and Alt-A RMBS securitized and sold by JPMorgan between 2005 and 2007. The investigations follow a May 2013 notice from the civil division of the U.S. Attorney’s Office that the division preliminarily concluded that JPMorgan violated certain federal securities laws in connection with those offerings. 10-Q Excerpt.

Topics:  Fraud, Investigations, JPMorgan Chase, Mortgage-Backed Securities, Mortgages, Subprime Mortgages

Published In: Criminal Law Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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