The Traderszone Network

Published in TZ Latest News 17 July, 2015 by The TZ Newswire Staff

JPMorgan reaches $388 million settlement in mortgage securities case

The lawsuit, brought by Fort Worth Employees’ Retirement Fund and other investors in offerings made before the 2008 financial crisis, accused JPMorgan of misleading them about the underwriting, appraisals and credit quality of the home loans underlying the certificates. The lawsuit said that after Lehman Brothers Holdings Inc failed, the certificates were worth at most 62 cents on the dollar.

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