JPMorgan Can't Ditch FHFA Suit Over $33B In MBS

Law360, New York (November 5, 2012, 3:52 PM EST) -- A New York federal judge on Monday greenlighted much of a suit accusing JPMorgan Chase & Co. of lying to Fannie Mae and Freddie Mac about the quality of $33 billion in mortgage-backed securities, saying the federal government had backed up most of its claims.

U.S. District Judge Denise Cote said that the Federal Housing Finance Agency provided adequate support for many of its fraud claims against JPMorgan. The bank, along with current subsidiaries Bear Stearns and Washington Mutual Bank NA, sold $33 billion of MBS...
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