Mortgage-bond trustees including U.S. Bank N.A. and Bank of New York Mellon Corp. asked a New York state court judge to approve a $4.5 billion settlement with JPMorgan Chase & Co. over investor claims of faulty home loans.
JPMorgan made an offer to the trustees in November to settle claims relating to the underwriting and servicing of loans in 330 residential mortgage securitization trusts, as well as claims over document delivery, according to a petition filed yesterday in New York State Supreme Court in Manhattan.
