Syncora, JPMorgan Bring RMBS Litigation To An End

Law360, New York (February 25, 2014, 7:34 PM EST) -- Monoline insurer Syncora Guarantee Inc. and JPMorgan Chase & Co. have reached a settlement for an undisclosed sum over long-standing claims that the bank misrepresented the risks of its residential mortgage-backed securities, Syncora announced Monday.

Syncora and JPMorgan and some affiliates have been involved in litigation since at least 2009 over allegations that the bank's mortgage-backed securities were riskier than portrayed, leading to Syncora paying out hundreds of millions of dollars in insurance claims to the bank's affiliates.

The settlement will help keep Syncora solvent, the company said...
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