Litigation
Apr. 15, 2015
Judge gives mortgage fraud claimaints last chance
The court granted plaintiffs 30 days to find one unifying theory on how 46 separate mortgages qualify for a joint mass tort against JP Morgan Chase & Co.
Daily Journal Staff Writer
LOS ANGELES - A judge on Monday granted 46 plaintiffs a fifth and final chance to amend their mass tort against JP Morgan Chase & Co. accusing the bank of engaging in fraud while securitizing mortgages, and thus not having inherited proper rights to demand and accept payments on the loans.
The suit also asserts that the monthly payments borrowers made to JP Morgan Bank were not properly credi...
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