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JPMorgan Says SEC Warned It May Bring Claims in Mortgage Probes

JPMorgan Chase & Co. signage is displayed at the entrance to the headquarters building in New York, U.S. Photographer: Jin Lee/Bloomberg
JPMorgan Chase & Co. signage is displayed at the entrance to the headquarters building in New York, U.S. Photographer: Jin Lee/Bloomberg

Feb. 29 (Bloomberg) -- JPMorgan Chase & Co., the largest U.S. bank by assets, said the Securities and Exchange Commission warned in January that it may bring civil claims after two investigations relating to mortgage securitizations.

One inquiry focuses on due diligence and disclosures in two securitizations by a subsidiary, the New York-based bank said today in a regulatory filing. The other probe relates to “settlements of claims against originators” involving loans included in securitizations handled by Bear Stearns Cos., which JPMorgan acquired in 2008.

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To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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