{"id":1167,"date":"2012-12-13T21:10:41","date_gmt":"2012-12-13T21:10:41","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/12\/stockbroker_fraud_headlines_cr"},"modified":"2022-03-10T09:13:55","modified_gmt":"2022-03-10T15:13:55","slug":"stockbroker-fraud-headlines-cr","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-cr\/","title":{"rendered":"Securities Headlines: Credit Suisse & J.P. Morgan to Pay $400M Over RMBS Misstatements, Fox Network\u2019s FOIA Request for AIG Emails Granted, Expedited Discovery Approved in Real Estate \u2018Flipper\u2019 Case, & NY Brokerage Owner is Linked to Affinity Scam"},"content":{"rendered":"

\t\t\t\tCredit Suisse & J.P. Morgan to Pay $400M Over RMBS Misstatements<\/strong><\/p>\n

In SEC v. J.P. Morgan<\/em>, the financial firm is accused of allegedly misstating information related to approximately 620 subprime mortgage loans’ delinquency status. The loans gave collateral for a $1.8M residential mortgage-backed securities offering that J.P. Morgan (JPM)<\/a> underwrote six years ago and from which it was paid over $2.7 million in fees while investors lost at least $37 million. Now, the firm has agreed to pay nearly $297M to settle the allegations (without denying or admitting to them). The Commission is also accusing J.P. Morgan-owned Bear Stearns Cos. LLC of failing to disclose from 2005 to 2007 that it kept financial settlements from mortgage loan originators on problem loans that it sold into RMBS trusts. <\/p>\n

Also settling RMBS Misstatement allegations with the regulator is Credit Suisse Securities (USA) LLC. In an administrative order, the SEC claims that between 2005 and 2010 the financial firm did not accurately disclose that it would keep cash from claims it settled against mortgage loan originators for issues involving loans that it had sold into RMBS trusts. Credit Suisse also allegedly misled investors about when it intended to buy back loans from trusts if those that borrowed did not make the initial payment. The firm has agreed to settle for $120M and is also not denying or admitting to the allegedly negligent conduct. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Credit Suisse & J.P. Morgan to Pay $400M Over RMBS Misstatements In SEC v. J.P. Morgan, the financial firm is accused of allegedly misstating information related to approximately 620 subprime mortgage loans’ delinquency status. The loans gave collateral for a $1.8M residential mortgage-backed securities offering that J.P. Morgan (JPM) underwrote six years ago and from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3918,3817,3752,3739,3797],"tags":[],"class_list":["post-1167","post","type-post","status-publish","format-standard","hentry","category-affinity-fraud","category-credit-suisse","category-financial-firms","category-finra","category-j-p-morgan-chase"],"yoast_head":"\nSecurities Headlines: Credit Suisse & J.P. Morgan to Pay $400M Over RMBS Misstatements, Fox Network\u2019s FOIA Request for AIG Emails Granted, Expedited Discovery Approved in Real Estate \u2018Flipper\u2019 Case, & NY Brokerage Owner is Linked to Affinity Scam — Investor Lawyers Blog — December 13, 2012<\/title>\n<meta name=\"description\" content=\"Credit Suisse & J.P. Morgan to Pay $400M Over RMBS Misstatements In SEC v. J.P. Morgan, the financial firm is accused of allegedly misstating — December 13, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-cr\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Headlines: Credit Suisse & J.P. 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