JPMorgan’s liability in FHFA MBS case nears $6B

If the Federal Housing Finance Agency managed to obtain the highest possible settlement with JPMorgan Chase (JPM) over the bank’s sale of troubled mortgage-backed securities to the enterprises, the bank would be on the hook for $6 billion, Seeking Alpha reports. As the publication points out below, JPMorgan could fight it out, but the court’s rulings so far don’t bode well for the banking giant:

“$6B would be the high-end of what JPMorgan last year figured was its liability in the case (the suit is over $33B in MBS). The House of Dimon could await its day in court, but nearly all initial rulings have gone against the banks thus far. A settlement before the summer 2014 trial date still looks probable,” Seeking Alpha wrote.

 

Source: Seeking Alpha

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s