Firm Secures Settlement for Syncora in Mortgage-Backed Securities Suit

March 5, 2014

Patterson Belknap secured a settlement on behalf of its client, Syncora Guarantee Inc., in a lawsuit against JPMorgan Chase & Co. subsidiary EMC Mortgage over misrepresentation of the risks of the bank’s residential mortgage-backed securities (RMBS) and the quality of the underlying loans. The $400 million settlement covers several cases that Syncora brought against JPMorgan to recover losses on securities created and sold by the former Bear Stearns & Co. and its EMC Mortgage affiliate.

To read press on the settlement, click here.