Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
642,359+2,874
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.79%0.00

NY judge orders JPMorgan to pay $50 million in MBS suit

According to Law360, a New York state judge ordered JPMorgan Chase (JPM) to pay a Russian billionaire more than $50 million. An affiliate of the bank reportedly breached a contract by filling the investor's conservative cash-management account with risky mortgage-backed securities. Law360 has more:

In an Aug. 21 decision made public Monday, Judge Melvin L. Schweitzer said JPMorgan Investment Management Inc. breached its contract with Leonard Blavatnik by exceeding the 20% cap on mortgage-backed securities allowed under its agreement.

Most Popular Articles

Latest Articles

Navigating movement in the mortgage industry series: Post-closing matters are important too 

Introduction  As part of our ongoing discussion on the concept of movement in the mortgage industry, it is readily apparent that the failure of mortgage companies to pivot or tweak their business models to satisfy changing market and other conditions has resulted in consolidation based on liquidity, buyback, financial and other concerns.  Regardless of whether […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please