Law360, New York (July 12, 2016, 7:34 PM EDT) -- JPMorgan Chase Bank NA argued Tuesday that a New York Supreme Court judge should toss a suit made against it by Bank of New York Mellon Corp. over alleged misrepresentations made in the sale of $959 million in residential mortgage loans because she ruled that way in a "virtually identical" case between the same parties.BNY Mellon is seeking $475 million in breach of contract and breaches of warranties and representations in the 2006 purchase from WMC Mortgage LLC as successor-by-merger to WMC Mortgage Corp., J.P. Mortgage Acquisition Corp. and JPMorgan Chase Bank. The 2014 suit says that since the defendants... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
JP Morgan Chase has urged a judge to throw out a residential mortgage backed securities lawsuit lodged against it. The suit was filed by the Federal Housing Finance Agency (FHFA) in July 2012 after it learned that JPMorgan, which is now part of Bank of America, had been secretly funneling money into Fannie