Banks reportedly face penalties tied to RMBS

JPMorgan Chase has agreed to pay $13 billion to settle investigations into its operation for residential mortgage-backed securities, sources say. The Federal Housing Finance Agency is set to receive $4 billion from JPMorgan and reportedly is seeking more than $6 billion from Bank of America. The penalty would settle civil claims that BofA sold faulty mortgage-backed bonds to Fannie Mae and Freddie Mac.

View Full Article in:

Bloomberg · Wall Street Journal (tiered subscription model), The · Bloomberg Businessweek · Financial Times (tiered subscription model)

Published in Briefs: