FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks

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FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks

FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks

Bloomberg-

A U.S. housing regulator is seeking at least $6 billion from JPMorgan Chase & Co. to settle civil claims the bank sold bad mortgage bonds to government-backed finance companies Fannie Mae (FNMA) and Freddie Mac (FMCC), according to a person briefed on the matter.

The Federal Housing Finance Agency, which sued JPMorgan and 17 other banks over faulty mortgage bonds two years ago, is trying to recoup some of the losses taxpayers were forced to cover when the government took over the failing mortgage finance companies in 2008. Fannie Mae and Freddie Mac, which are regulated by FHFA, have taken $187.5 billion in federal aid since then.

[BLOOMBERG]

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2 Responses to “FHFA Said to Seek $6 Billion Minimum in JPMorgan Talks”

  1. I can see where this might end. Chase claiming they never purchased the Countrywide mortgages just servicing rights. Which is the truth. Chase has been stealing all the houses with fake mortgages. There never was any transfer of mortgages of any kind. Read the Lawrence Nardi deposition and the assumption agreement, and extention and 118 pages hidden for a while of the assumption agreement. They don’t own Countrywide loans and Countrywide never transferred them nor entered the notes into the trust. Countrywide I BK. Just my opinion.

  2. If they settle for peanuts and don’t prosecute any party in the bank they will be letting the banks off the hook again, without being able to sue again. Bet ya this is all for show and to let the banks off the hook again for peanuts of what they stole.

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