JPMorgan Chase & Co. said it could face two fraud class actions after it temporarily halted foreclosures in September.
The company also became the latest big Wall Street bank to disclose a laundry list of lawsuits it is facing that allege the banks' underwriting of mortgages used in securitizations harmed investors in those securitizations.
In its quarterly filing Tuesday, JPMorgan Chase said that it and its Washington Mutual Bank and Chase Home Finance LLC divisions are facing suits in Illinois and California that are seeking class-action status. The lawsuits allege "common law fraud and misrepresentation, as well as violations of state consumer fraud statutes."
JPMorgan Chase also said it encountered the same lawsuits that other banks, such as Citigroup Inc. and Bank of America Corp., have said they face. Those include suits by the Federal Home Loan banks and Charles Schwab Corp.