NEW YORK, Oct. 26 (UPI) -- U.S. financial giant JPMorgan Chase said it agreed to pay $4 billion to resolve litigation issues with the Federal Housing Finance Agency.
"This settlement resolves the firm's largest mortgage-backed securities case and relates to approximately $33.8 billion of securities purchased by Fannie Mae and Freddie Mac from J. P. Morgan, Bear Stearns and Washington Mutual," the company said, referring to the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association, mortgage giants that purchase bundled loans, known as securities, from commercial banks.