GE, JPMorgan Can't Kill Investors' $2B MBS Trust Suit

Law360, New York (November 25, 2013, 6:19 PM EST) -- Investors can pursue allegations that General Electric Capital Corp. and JPMorgan Chase & Co. misrepresented the quality of loans in a $1.9 billion mortgage-backed securities trust, a New York state judge ruled Friday, but limited damages to loans that don't meet underwriting standards.

Judge Shirley Werner Kornreich said that GE subsidiary WMC Mortgage LLC, which originated the loans in the pool, and several JPMorgan subsidiaries, which acted as seller in the securitization and servicer of the mortgages, must face the investors' attempts to force them to...
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