Bond Insurer Sues JPM Unit Over MBS

15 Feb 2012

Bond insurer Syncora Guarantee has filed a lawsuit against EMC Mortgage, a onetime unit of Bear Stearns now owned by JPMorgan Chase, alleging that EMC misrepresented the quality of the loans in a securitization known as SACO I Trust 2006-1 to induce Syncora to insure it.

Bond insurer Syncora Guarantee has filed a lawsuit against EMC Mortgage, a onetime unit of Bear Stearns now owned by JPMorgan Chase, alleging that EMC misrepresented the quality of the loans in a securitization known as SACO I Trust 2006-1 to induce Syncora to insure it.

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