Settlement Agreement | FHFA Announces $5.1 Billion in Settlements with J.P. Morgan Chase & Co - FORECLOSURE FRAUD

Categorized | STOP FORECLOSURE FRAUD

Settlement Agreement | FHFA Announces $5.1 Billion in Settlements with J.P. Morgan Chase & Co

Settlement Agreement | FHFA Announces $5.1 Billion in Settlements with J.P. Morgan Chase & Co

The problem I have with this is that omitted filings are being kept confidential. Taxpayers are entitled to this information.

 

For Immediate Release Contact: Corinne Russell (202) 649-3032
October 25, 2013 Stefanie Johnson (202) 649-3030

FHFA Announces $5.1 Billion in Settlements
with J.P. Morgan Chase & Co.

Settlements include private-label securities and representation and
warranty claims

Washington, DC – The Federal Housing Finance Agency (FHFA), as conservator of Fannie
Mae and Freddie Mac, today announced it has reached a settlement with J.P. Morgan Chase &
Co. and related companies for $ 4 billion to address claims of alleged violations of federal and
state securities laws in connection with private-label, residential mortgage-backed securities
(PLS) purchased by Fannie Mae and Freddie Mac. Under the terms of the agreement, J.P.
Morgan Chase & Co. will pay approximately $2.74 billion to Freddie Mac and $1.26 billion to
Fannie Mae to resolve certain claims related to securities sold to the companies between 2005
and 2007 by J.P. Morgan Chase & Co., Bear Stearns & Co., Inc. and Washington Mutual.

In separate settlements, J.P. Morgan Chase & Co. resolved representation and warranty claims
with Fannie Mae and Freddie Mac related to single-family mortgage purchases by the two
companies. Under the terms of the agreements, J.P. Morgan Chase Bank N.A. will pay a total of
approximately $1.1 billion — $670 million to Fannie Mae and $480 million to Freddie Mac.

“The satisfactory resolution of the private-label securities litigation with J.P. Morgan Chase &
Co. provides greater certainty in the marketplace and is in line with our responsibility for
preserving and conserving Fannie Mae’s and Freddie Mac’s assets on behalf of taxpayers. This
is a significant step as the government and J. P. Morgan Chase move to address outstanding
mortgage-related issues,” said FHFA Acting Director Edward J. DeMarco. “Further, I am
pleased that a resolution of single family, whole loan representation and warranty claims could
be achieved at the same time. This, too, will have a beneficial impact for taxpayers and the
housing finance market.”

FHFA’s General Counsel noted, “Our lead representation by Philippe Selendy and the firm of
Quinn Emanuel Urquhart & Sullivan was central to reaching this landmark settlement and
their work continues in the remaining PLS cases. I want to cite the strong work of the FHFA
Office of General Counsel’s litigation group under Stephen Hart and the legal and business
teams at Freddie Mac and Fannie Mae.

“The settlement of the PLS litigation was initiated by U.S. District Court Judge Denise Cote’s
direction to undertake mediation of the PLS cases under her jurisdiction. The settlement also is
aligned with the working group of federal and state authorities addressing claims related to
private-label securities and FHFA has and continues to work with all the government entities
involved.”

FHFA has now settled four of the 18 PLS suits it filed in 2011, and remains committed to
satisfactory resolution of the pending actions.

The settlement agreement regarding private label securities claims between FHFA and
J.P. Morgan Chase & Co. involves the following cases: FHFA v. JP Morgan Chase & Co.,
et al., No. 121 CIV. 6188 (DLC) (S.D.N.Y.)(and other named defendants); FHFA v. Ally
Financial Inc., et al., 11 CIV. 7010 (DLC) (S.D.N.Y.); FHFA v. First Horizon National
Corp., et al., No. 11 Civ. 6193 (DLC)(S.D.N.Y.) and FHFA v. SG Americas, Inc., et al.,
No. 11 CIV. 6203 (DLC)(S.D.N.Y.)

(Settlement Agreement follows; confidential filings omitted)

###

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.5 trillion in funding for the U.S. mortgage markets and financial institutions.

Down Load PDF of This Case

Exhibit A
THE COVERED SECURITIES

Security Name CUSIP Action

AABST 2005-5 2A 00764MHD2 JPMorgan
AHM 2005-1 6A 02660TDH3 JPMorgan
AHM 2005-4 4A 02660TGV9 JPMorgan
ARSI 2006-M2 A1 04013BAR3 JPMorgan
BALTA 2005-10 22A1 07386HZE4 JPMorgan
BALTA 2005-10 23A1 07386HZG9 JPMorgan
BALTA 2006-1 21A1 07386HB75 JPMorgan
BALTA 2006-2 22A1 07386HF30 JPMorgan
BALTA 2006-3 21A1 07386HK83 JPMorgan
BALTA 2006-4 12A1 073871AC9 JPMorgan
BALTA 2006-4 31A1 073871BL8 JPMorgan
BSABS 2005-HE12 2A 0738795P9 JPMorgan
BSABS 2006-AQ1 12A 07389PAD2 JPMorgan
BSABS 2006-HE10 22A 07389RAR7 JPMorgan
BSABS 2006-HE10 23A 07389RAS5 JPMorgan
BSABS 2006-HE2 2A 07387UEL1 JPMorgan
BSABS 2006-HE4 2A 07388AAD6 JPMorgan
BSABS 2006-HE5 2A 07388CAD2 JPMorgan
BSABS 2006-HE7 2A 07388HAR0 JPMorgan
BSABS 2006-HE8 22A 07388JAR6 JPMorgan
BSABS 2006-HE9 2A 07389MAD9 JPMorgan
BSABS 2006-HE9 3A 07389MAE7 JPMorgan
BSABS 2007-FS1 2A 073855AG3 JPMorgan
BSABS 2007-HE1 22A 07389UAR0 JPMorgan
BSABS 2007-HE1 23A 07389UAS8 JPMorgan
BSABS 2007-HE2 22A 07389YAE1 JPMorgan
BSABS 2007-HE2 23A 07389YAF8 JPMorgan
BSABS 2007-HE3 2A 073852AE5 JPMorgan
BSABS 2007-HE3 3A 073852AF2 JPMorgan
BSABS 2007-HE4 2A 07386RAE9 JPMorgan
BSABS 2007-HE5 2A 073859AE0 JPMorgan
BSABS 2007-HE5 3A 073859AF7 JPMorgan
BSABS 2007-HE6 2A 07387YAE3 JPMorgan
BSABS 2007-HE7 2A1 07387VAC3 JPMorgan
BSABS 2007-HE7 3A1 07387VAE9 JPMorgan
BSMF 2006-SL5 2A 07401HAB8 JPMorgan
BSMF 2006-SL6 2A 07400LAT1 JPMorgan
BSMF 2007-AR3 22A1 07401VAS0 JPMorgan
BSMF 2007-SL1 2A 07401PAB0 JPMorgan
BSMF 2007-SL2 2A 07401RAB6 JPMorgan
CBASS 2006-CB2 AV 12498NAW3 JPMorgan
CBASS 2006-CB7 A1 12479DAA6 JPMorgan
GPMF 2005-AR5 2A1 39538WEE4 JPMorgan
GPMF 2006-AR3 2A1 39538WHA9 JPMorgan
GPMF 2006-AR3 2A2 39538WHB7 JPMorgan
JPALT 2005-A2 2A1 46627MBS5 JPMorgan
JPALT 2007-A2 11A1 466278AA6 JPMorgan
JPMAC 2005-FRE1 A1 46626LBU3 JPMorgan
JPMAC 2005-OPT2 A1A 46626LEF3 JPMorgan
JPMAC 2005-WMC1 A1 46626LBD1 JPMorgan
JPMAC 2006-ACC1 A1 46628RAA3 JPMorgan
JPMAC 2006-CH1 A1 46629TAA8 JPMorgan
JPMAC 2006-CH2 AV1 46629QAS5 JPMorgan
JPMAC 2006-CW1 A1A 46628MAA4 JPMorgan
JPMAC 2006-CW2 AV1 46629BAN9 JPMorgan
JPMAC 2006-FRE1 A1 46626LFX3 JPMorgan
JPMAC 2006-FRE2 A1 46626LGX2 JPMorgan
JPMAC 2006-HE1 A1 46626LGT1 JPMorgan
JPMAC 2006-HE2 A1 46625SAA4 JPMorgan
JPMAC 2006-HE3 A1 46629VAA3 JPMorgan
JPMAC 2006-NC1 A1 46626LJL5 JPMorgan
JPMAC 2006-NC2 A1A 46629HAA4 JPMorgan
JPMAC 2006-RM1 A1A 46629NAA1 JPMorgan
JPMAC 2006-RM1 A1B 46629NAB9 JPMorgan
JPMAC 2006-WMC1 A1 46626LJK7 JPMorgan
JPMAC 2006-WMC2 A1 46628TAA9 JPMorgan
JPMAC 2006-WMC3 A1MZ 46629KAB5 JPMorgan
JPMAC 2006-WMC3 A1SS 46629KAA7 JPMorgan
JPMAC 2006-WMC4 A1A 46630BAA4 JPMorgan
JPMAC 2006-WMC4 A1B 46630BAB2 JPMorgan
JPMAC 2007-CH2 AV1 46630MAS1 JPMorgan
JPMAC 2007-CH3 A1A 46630XAA6 JPMorgan
JPMAC 2007-CH3 A1B 46630XAB4 JPMorgan
JPMAC 2007-CH4 A1 46630CAA2 JPMorgan
JPMAC 2007-CH5 A1 46631KAA3 JPMorgan
JPMMT 2006-A3 1A1 46628KAA8 JPMorgan
LBMLT 2005-3 1A 542514NT7 JPMorgan
LBMLT 2006-1 1A 542514RH9 JPMorgan
LBMLT 2006-10 1A 54251YAA6 JPMorgan
LBMLT 2006-11 1A 542512AA6 JPMorgan
LBMLT 2006-2 1A 542514TQ7 JPMorgan
LBMLT 2006-3 1A 542514UG7 JPMorgan
LBMLT 2006-4 1A 54251MAA2 JPMorgan
LBMLT 2006-5 1A 54251PAA5 JPMorgan
LBMLT 2006-6 1A 54251RAA1 JPMorgan
LBMLT 2006-7 1A 54251TAA7 JPMorgan
LBMLT 2006-8 1A 54251UAA4 JPMorgan
LBMLT 2006-9 1A 54251WAA0 JPMorgan
LBMLT 2006-WL1 1A1 542514QP2 JPMorgan
LBMLT 2006-WL1 1A2 542514QQ0 JPMorgan
LBMLT 2006-WL2 1A 542514RZ9 JPMorgan
LBMLT 2006-WL3 1A 542514SS4 JPMorgan
LUM 2006-3 22A1 55027AAD2 JPMorgan
NCMT 2007-1 1A1 65106FAA0 JPMorgan
PCHLT 2005-4 2A1 71085PDF7 JPMorgan
SACO 2007-1 A2 785814AB0 JPMorgan
SACO 2007-2 A2 78581NAB8 JPMorgan
SAMI 2006-AR4 1A1 86360QAA3 JPMorgan
WAMU 2007-OA3 1A 93364AAA0 JPMorgan
WMABS 2006-HE1 1A 92925CEP3 JPMorgan
WMABS 2006-HE3 1A 93934MAA5 JPMorgan
WMABS 2006-HE4 1A 93934QAA6 JPMorgan
WMABS 2006-HE5 1A 93934XAA1 JPMorgan
WMABS 2007-HE1 1A 93935KAA8 JPMorgan
WMABS 2007-HE2 1A 93934TAA0 JPMorgan
WMALT 2005-10 1CB 93934FFY3 JPMorgan
WMALT 2005-9 1CB 93934FEL2 JPMorgan
WMALT 2006-AR4 1A 939345AA2 JPMorgan
WMALT 2006-AR4 2A 939345AB0 JPMorgan
WMALT 2006-AR4 3A 939345AC8 JPMorgan
WMALT 2006-AR5 1A 93935AAA0 JPMorgan
WMALT 2006-AR5 2A 93935AAB8 JPMorgan
WMALT 2006-AR8 1A 93935LAA6 JPMorgan
WMALT 2006-AR9 1A 939346AA0 JPMorgan
WMALT 2007-OA1 1A 93935NAA2 JPMorgan
WMALT 2007-OA2 1A 93935QAA5 JPMorgan
WMALT 2007-OA3 1A 939355AA1 JPMorgan
WMALT 2007-OA3 3A 939355AC7 JPMorgan
WMHE 2007-HE1 1A 933631AA1 JPMorgan
WMHE 2007-HE2 1A 92926SAA4 JPMorgan
WMHE 2007-HE3 1A 93364EAA2 JPMorgan
WMHE 2007-HE4 1A 93363XAA1 JPMorgan
RAMP 2005-EFC6 A2 76112BL32 Ally
RAMP 2005-RS9 AII 76112BL99 Ally
RASC 2005-KS10 A2 75405WAD4 Ally
RASC 2007-KS2 AII 74924WAE7 Ally
RASC 2007-KS3 AII 74924YAE3 Ally
FHAMS 2005-AA12 2A1 32051GQ81 First Horizon
SGMS 2006-FRE2 A1 784208AA8 SocGen

© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 11541 posts on FORECLOSURE FRAUD.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “Settlement Agreement | FHFA Announces $5.1 Billion in Settlements with J.P. Morgan Chase & Co”

Trackbacks/Pingbacks

  1. […] For the record this is a $9 Billion settlement NOT $13 Billion. See this for reference:  Settlement Agreement | FHFA Announces $5.1 Billion in Settlements with J.P. Morgan Chase & Co […]


Leave a Reply

Advert

Archives