JPMorgan To Pay $400M To Settle Syncora RMBS Suits

Law360, Los Angeles (March 3, 2014, 9:04 PM EST) -- JPMorgan Chase & Co. will pay monoline insurer Syncora Guarantee Inc. $400 million to settle long-standing claims that the bank misrepresented the risks of its residential mortgage-backed securities, Syncora disclosed Friday.

Syncora announced the settlement last week but did not mention the size of the payment. The figure was disclosed as part of Syncora's 2013 financial statement, released Friday. Representatives for the parties did not immediately respond late Friday to requests for comment. 

Syncora and JPMorgan have been involved in litigation since at least 2009 over allegations that...
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