Deals
JPMorgan Won’t Detail 500,000 Loans, Trustee Says
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A JPMorgan Chase & Co. unit refused to give mortgage trust investors more than 500,000 loan files that would show them how many of the loans are bad and must be repurchased, a trustee said in a court filing.
A unit of Deutsche Bank AG said it has a right to the files as trustee for the investors. The investors own 99 mortgage-backed-securities trusts that were built on loans made by Washington Mutual Bank before it was seized by regulators and sold to JPMorgan in 2008 for $1.9 billion.