Bloomberg News

JPMorgan Will Pay $5.1 Billion to Settle FHFA Mortgage Claims

October 25, 2013

JPMorgan Will Pay $5.1 Billion to Settle FHFA Mortgage Claims

People stand in the lobby of JPMorgan Chase & Co. headquarters in New York on Oct. 25, 2013. Photographer: Scott Eells/Bloomberg

JPMorgan Chase & Co. (JPM:US) will pay $5.1 billion to settle Federal Housing Finance Agency claims related to mortgages and mortgage bonds sold to Fannie Mae and Freddie Mac. The settlement includes $4 billion to resolve one part of a $13 billion accord the bank has been negotiating.

FHFA, the regulator for the government-owned finance companies, announced the accord with New York-based JPMorgan, the biggest U.S. bank by assets, in a statement today.

To contact the reporter on this story: Clea Benson in Washington at cbenson20@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net


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Companies Mentioned

  • JPM
    (JPMorgan Chase & Co)
    • $59.01 USD
    • -0.16
    • -0.27%
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