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Provider: Thomson Reuters Stock Report
Provider: Stock Traders Daily
Provider: New Constructs, LLC
Provider: MacroRisk Analytics/EconomicInvestor

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JPMorgan Chase & Co. Reaches Settlements with Federal Housing Finance Agency, Freddie Mac and Fannie Mae

Monday, 28 Oct 2013 03:00am EDT 

JPMorgan Chase & Co. announced that it has reached an agreement to resolve all of its mortgage-backed securities (MBS) litigation with the Federal Housing Finance Agency (FHFA) as conservator for Freddie Mac and Fannie Mae for $4 billion. This settlement resolves the firm’s largest MBS case and relates to approximately $33.8 billion of securities purchased by Fannie Mae and Freddie Mac from J.P. Morgan, Bear Stearns and Washington Mutual. The firm has also simultaneously agreed to resolve Fannie Mae’s and Freddie Mac’s repurchase claims associated with whole loan purchases from 2000 to 2008, for $1.1 billion.