Form 10-Q

JP Morgan Discloses Investigation of MBS Practices

In its Form 10-Q filed with the SEC on August 7, JP Morgan Chase & Co. disclosed that it is responding to parallel criminal and civil investigations by the U.S. Attorney’s Office for the Eastern District of California relating to subprime and Alt-A RMBS securitized and sold by JPMorgan between 2005 and 2007.  The investigations follow a May 2013 notice from the civil division of the U.S. Attorney’s Office that the division preliminarily concluded that JPMorgan violated certain federal securities laws in connection with those offerings.  10-Q Excerpt.