JPMorgan to pay $5.1 billion to settle mortgage claims
World BusinessOct 26, 2013
JPMorgan Chase & Co. agreed to pay $5.1 billion to settle Federal Housing Finance Agency claims related to home loans and mortgage-backed securities the bank sold to Fannie Mae and Freddie Mac, resolving part of a $13 billion accord the company has been negotiating. The deal includes $4 billion to end a 2011 lawsuit accusing the bank of selling Fannie Mae and Freddie Mac faulty mortgage bonds, the FHFA said today in a statement. The remaining $1.1 billion settles claims that the bank sold the co