JPMorgan to pay $5.1 billion settlement with Fannie, Freddie

JPMorgan-Mortagage-Bonds-ProbePhoenix Business Journal

JPMorgan Chase & Co. has agreed to pay $5.1 billion to settle claims with the Federal Housing Finance Agency related to its mortgage-backed securities and home loans sold to Freddie Mac and Fannie Mae. The settlement resolves part of a $13 billion deal New York-based JPMorgan (NYSE: JPM) is negotiating with the government and the firm’s largest mortgage-backed securities case.

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