Court Approves JPMorgan Settlement on Mortgage Loan Quality and Servicing

Faegre Baker Daniels represented Wells Fargo, as trustee of 30 trusts and securities administrator or paying agent for more than 200 trusts, in connection with seeking judicial approval in New York of a $4.5 billion settlement by JPMorgan Chase & Co. (JPM) to resolve investor claims that JPM breached its servicing of and representations and warranties under the governing agreements regarding the quality of loans in 330 residential mortgage loan trusts. The New York court approved the settlement and is deciding the proper methodology for distribution of the settlement payment to the trusts’ investors.

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