JPMorgan Loses Bid to Dismiss FHFA Mortgage Suits

JPMorgan, Bank of America Corp. (BAC) and Citigroup Inc. (C) were among the lenders sued last year for allegedly misleading Fannie Mae and Freddie Mac about the soundness of loans underlying billions of dollars of residential mortgage-backed securities. JPMorgan served as the lead underwriter for 30 out of the 103 securitizations at issue in this case.