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Tue Dec 20, 2011, 11:30 AM

Wheeeee...Investors Scrutinizing JPMorgan’s Mortgages

Lawyers representing investors that settled billions of dollars of mortgage bond claims with Bank of America last summer announced on Friday that they had opened investigations into $95 billion worth of mortgages held in JPMorgan Chase securities.

The investors are concerned that there were mortgages put inside those securities before the housing bubble burst that were subpar from the beginning, and they are investigating whether JPMorgan should repurchase those loans.

JPMorgan is among the banks with the most mortgage-related litigation and claims, having inherited much of its exposure from its acquisitions of Bear Stearns and Washington Mutual, which both ran into trouble partly because of troubled mortgages. Of the 243 mortgage bonds at JPMorgan that the investors are targeting, at least half were created by Bear Stearns or Washington Mutual.

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Reply Wheeeee...Investors Scrutinizing JPMorgan’s Mortgages (Original post)
dixiegrrrrl Dec 2011 OP
BR_Parkway Dec 2011 #1

Response to dixiegrrrrl (Original post)

Tue Dec 20, 2011, 11:32 AM

1. "at least half...." sort of shoots that "oh, we're innocent, we inherited all this crap" spin

of the article.

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