Judge Sets Roadmap In $4.5B JPMorgan RMBS Deal Split

Law360 (February 14, 2020, 10:48 PM EST) -- A New York state judge has laid out a roadmap for the Bank of New York Mellon and other residential mortgage-backed securities trustees to finish distributing proceeds from a $4.5 billion settlement between JPMorgan and investors in those securities, cutting through a series of process disputes with the potential to shift payouts.

In a 46-page decision filed Thursday, New York Supreme Court Justice Marcy Friedman resolved lingering questions about the proper methodology to be used in doling out funds from the JPMorgan Chase & Co. settlement, which received the judge's final approval in 2016 and ended claims brought over institutional investors'...

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