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JPMorgan faces DOJ criminal probe over MBS issuance

JPMorgan faces DOJ criminal probe over MBS issuance

According to a story at Bloomberg, JPMorgan Chase (JPM) is under a Department of Justice-led criminal probe over its RMBS practices after the DOJ’s preliminary finding in May that it broke civil laws:

Authorities have sought information on the company’s “treatment of early payment defaults, potential breaches of securitization representations and warranties, reserves and due diligence in connection with securitizations,” according to the filing. “The firm continues to respond to other MBS-related regulatory inquiries.”

Source: Bloomberg

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