Mortgage Loan Compliance | JPMorgan Chase Settles SEC’s Civil Suit

The Securities and Exchange Commission announced Tuesday that JPMorgan Chase & Co. has agreed to pay $153.6 million to settle civil fraud charges that it misled buyers of complex mortgage investments just before the housing market collapsed.

As part of the settlement, investors who were harmed will receive all of their money back, the SEC said. JPMorgan also agreed to improve the way it reviews and approves mortgage securities transactions.

In its announcement, the SEC said it was one of the most significant legal actions targeting Wall Street's role in the 2008 financial crisis. It comes a year after Goldman Sachs & Co. paid $550 million to settle similar charges.

The bank neither admitted nor denied wrongdoing under the settlement.

_______________________

Mortgage Loan Compliance® | The Forensic Loan Audit Company

Get The Facts, Audit Your Loan, and Protect Your Rights!

Call Today 1-866-966-6615 or Visit www.ml-compliance.com