Pursuits
JPMorgan Seen Facing Bigger Fight With Mortgage Investors
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JPMorgan Chase & Co. may need to pay more than the $4.5 billion it offered to settle investor claims over faulty mortgages packaged into securities before the U.S. housing crash, a report prepared for bond trustees shows.
Trustees should reject the accord struck last November with a group of bondholders for 16 of the 330 deals included, and it’s a “close call” for three others, according to the report posted online this week by Daniel Fischel, president of Compass Lexecon, which is among firms hired by the securities administrators to help evaluate the offer.