JPMorgan Hid Bad Loan Reports In RMBS Sales, Dexia Says

Law360, New York (February 7, 2013, 4:59 PM EST) -- JPMorgan Chase & Co. scrubbed independent reports of findings that large amounts of loans underlying residential mortgage-backed securities eventually sold to Dexia SA/NV were defective, the Belgian bank told a New York federal judge Monday.

In a brief opposing JPMorgan's motion for summary judgment in a suit accusing the banking giant and others of fraud in the formation and sale of more than $1.7 billion in residential mortgage-backed securities, Dexia claims the bank used those "sanitized" versions of reports compiled by independent underwriters to deliberately conceal...
To view the full article, register now.




Case Information

Case Title

Dexia SA/NV et al v. Bear, Stearns & Co., Inc. et al

Case Number



New York Southern

Nature of Suit

Fraud or Truth-In-Lending


Jed S. Rakoff

Date Filed

June 18, 2012

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.