JPMorgan Chase has reached a $4.5 billion deal to settle claims by 21 institutional investors, agreeing to repurchase faulty residential mortgage-backed securities.
November 18, 2013 at 03:05 PM
1 minute read
JPMorgan Chase has reached a $4.5 billion deal to settle claims by 21 institutional investors, agreeing to repurchase faulty residential mortgage-backed securities.
The investors, which include Black Rock Financial Management, Goldman Sachs Asset Management and the Prudential Insurance Co. of America, alleged that some of the mortgages included in the pools did not meet underwriting standards.
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