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JPMorgan to pay $5.1 bn to settle Fannie, Freddie claims

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(Globalpost/GlobalPost)

JPMorgan Chase will pay $5.1 billion in a pair of settlements related to mortgage and mortgage-backed securities sold to Freddie Mac and Fannie Mae, US officials said Friday.

The settlement resolves part of the tab as the US's biggest bank by assets proceeds with negotiations with the US over a broader pact to resolve mortgage-related violations.

jmb/pmh

http://www.globalpost.com/dispatch/news/afp/131025/jpmorgan-pay-51-bn-settle-fannie-freddie-claims