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.