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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
05/23/201313:20:09ISS Employee Leaked Proxy Votes, SEC Says
05/23/201313:00:37ISS Employee Leaked Proxy Votes for Concert Tickets, SEC Says
05/23/201310:30:11JPMorgan International Bank Fined by U.K. Regulator
05/23/201310:02:22Visa Names Ex-J.P. Morgan Executive Ryan McInerney as President
05/23/201309:24:33Goldman Worlds Apart from J.P. Morgan as Investor Meeting Looms
05/22/201317:53:15MARKET SNAPSHOT: U.S. Stocks Drop On Fed Tapering Worries
05/21/201316:52:59MARKET SNAPSHOT: U.S. Stocks Rise After Fed Officials' QE Signal
05/21/201315:26:19MARKET SNAPSHOT: U.S. Stocks Rise After Fed Officials Comments
05/21/201314:45:10Wal-Mart, Costco And Other Merchants Push Back Against Swipe-Fee...
05/21/201313:40:06Resolution to Split Chairman, CEO at J.P. Morgan Fails
05/21/201312:21:42MARKET SNAPSHOT: U.S. Stocks Up Slightly On Fed's 'QE' Hints
05/21/201310:59:33MARKET SNAPSHOT: U.S. Stocks Waver Ahead Of Fed Speakers
05/21/201310:23:37MARKET SNAPSHOT: U.S. Stocks Rise, With Fed Speakers On Tap
05/21/201308:34:57Risky Bank Debt Insurance Costs Drop as New Rules Loom
05/20/201315:15:19Analysts See Close Vote in Showdown Over Dimon's Dual Roles
05/20/201312:16:51Bank Analyst Michael Mayo Doesn't Want the `Jamie Show' at J.P...
05/17/201318:46:27MARKET SNAPSHOT: U.S. Stocks Notch Records, Fourth Week Of Gains
05/17/201315:57:53MARKET SNAPSHOT: U.S. Stocks Rise Toward Fourth Week Of Gains
05/16/201317:41:07Fitch Affirms Ratings on 12 Global Banks
05/16/201315:59:16Correction to J.P. Morgan Shareholder T. Rowe Price Story

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