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Trust Sues JP Morgan's EMC Mortgage Unit Over Loan Pool Purchase -Bloomberg

DOW JONES NEWSWIRES J.P. Morgan Chase & Co. (JPM) unit EMC Mortgage was sued by a trust that formed in 2006 and bought a pool of residential mortgage loans from EMC, Bloomberg News reported Friday. EMC is a former Bear Stearns unit. SACO I Trust 2006-5 alleges EMC made "numerous breaches of representations and warranties" about the quality of the loans, Bloomberg reported. The trust is seeking damages of at least $293 million plus interest, Bloomberg reported. A J.P. Morgan spokeswoman didn't immediately a return an email from Bloomberg seeking comment. Full story at http://www.bloomberg.com/news/2012-05-25/emc-mortgage-sued-by-securitization-trust-in-new-york-2-.html -Dow Jones Newswires; 212-416-2900

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
07/28/201408:30:12Correction to Greenberg Story on Friday
07/25/201416:05:03Investors Pile Into Treasury Bonds on Growth Concerns -- Update
07/25/201415:05:12Former Bear Stearns Chief Alan 'Ace' Greenberg Dies -- Update
07/25/201414:00:08Former Bear Stearns Chief Greenberg Dies
07/25/201413:58:23Former Bear Stearns Chief Alan 'Ace' Greenberg Dies
07/22/201413:13:16Credit Suisse to Exit Commodities Trading
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07/17/201421:50:39J.P. Morgan Awards CEO With Stock Options
07/17/201421:07:42J.P. Morgan Gave CEO Dimon Stock Options Valued at About $36...
07/17/201417:30:19J.P. Morgan Gives CEO Dimon Stock Option of 2 Million Shares
07/17/201404:43:08South Korea Sells Shares in Industrial Bank of Korea
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07/15/201417:09:10MARKET SNAPSHOT: U.S. Stocks Close Lower; Dow Ekes Out A Gain
07/15/201417:07:23MARKET SNAPSHOT: Momentum Plays Pull Down U.S. Stock Market
07/15/201417:03:17J.P. Morgan, Goldman Sachs Beat Expectations
07/15/201417:02:36J.P. Morgan, Goldman Sachs Beat Expectations -- 9th Update
07/15/201416:52:02MARKET SNAPSHOT: U.S. Stocks Swing As Yellen Speaks
07/15/201416:51:17J.P. Morgan Beats Expectations -- 8th Update
07/15/201416:49:26U.S. Hot Stocks: Hot Stocks to Watch

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