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JPMorgan Chase offers to pay $4.5 bln in mortgage securities deal -source
November 15, 2013 / 10:12 PM / 4 years ago

JPMorgan Chase offers to pay $4.5 bln in mortgage securities deal -source

NEW YORK, Nov 14 (Reuters) - JPMorgan Chase & Co has agreed to pay $4.5 billion to settle claims by investors who lost money on mortgage-backed securities in the collapse of the U.S. housing market, a person familiar with the matter said.

The bank will make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by the bank and Bear Stearns, which it took over during the financial crisis, the person said.

The settlement does not include trusts issued by Washington Mutual, which JPMorgan also acquired, the person said.

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