On Thursday, Massachusetts Mutual Life Insurance Co. filed a lawsuit against J.P. Morgan Securities LLC and four other financial firms claiming that $200 million in residential mortgage-backed securities it purchased through the firms were now "junk."
Then on Friday, U.S. Bancorp filed a $95 million suit in which it is demanding that J.P. Morgan Securities buy back mortgage-backed securities underwritten in 2005 by Bear Stearns Cos. that later soured. JPMorgan Chase bought Bear Stearns in 2008. The lawsuit, first reported by Reuters, was filed in the New York State Supreme Court.
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