March 03, 2014
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.
August 13, 2013
A New York state appellate court on Tuesday nixed Syncora Guarantee Inc.'s fraud suit against JPMorgan Securities LLC over $320 million the monoline insurer lost in a securitized mortgage deal, finding a federal breach-of-contract suit brought by Syncora against one of the banking giant's "sister affiliates" bars the state action.
June 19, 2012
A New York federal judge found Tuesday that JPMorgan Chase & Co. unit EMC Mortgage Corp.'s allegedly false warranties about the quality of loans underlying $666 million in mortgage-backed securities that Syncora Guarantee Inc. insured would be enough to trigger their repurchase agreement.
June 13, 2012
EMC Mortgage Corp. and Syncora Guarantee Inc. on Wednesday clashed over whether their repurchase agreement over $666 million in mortgage-backed securities requires Syncora to prove actual losses from EMC's alleged misrepresentations before the JPMorgan & Chase Co. unit can agree to repurchase soured loans.
March 28, 2011
A New York federal judge granted Syncora Guarantee Inc. a partial win Friday in its suit accusing EMC Mortgage Corp. of misrepresenting loans involved in $666 million in mortgage-backed securities for which the insurer covered investor returns.