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JPMorgan To Pay $5.1 Billion In Mortgage Claim Settlement

JPMorgan To Pay $5.1 Billion In Mortgage Claim Settlement

(New York, NY)  --  JPMorgan Chase will shell out $5.1 billion dollars to settle claims the financial firm sold bad mortgages to Fannie Mae and Freddie Mac.  

The settlement is part of a larger $13 billion deal the bank has been working to settle claims with several federal agencies.  

Federal housing authorities accused JPMorgan of making false statements and omitting facts when it sold $33 billion in mortgage bonds to Fannie Mae and Freddie Mac.  

 

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