A.G. Schneiderman Sues JPMorgan For Fraudulent Residential Mortgage-backed Securities Issued By Bear Stearns


WASHINGTON, DC – October 2, 2012 – (RealEstateRama) — In his role as co-chair of the Residential Mortgage-Backed Securities Working Group, Attorney General Eric T. Schneiderman today announced a Martin Act lawsuit against J.P. Morgan Securities LLC (formerly known as Bear Stearns & Co. Inc.), JP Morgan Chase Bank, N.A., and EMC Mortgage LLC (formerly known as EMC Mortgage Corporation) for making fraudulent misrepresentations and omissions to promote the sale of residential mortgage­-backed securities (RMBS) to investors.

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