JPMorgan MBS settlement talks reportedly reach $11B
JPMorgan Chase (JPM) is in talks with government officials to settle federal and state mortgage probes for $11 billion, Reuters reports. That's up from early estimates, which put the total settlement at $7 billion. Reuters says negotiations are far from over:
The talks are fluid and the $11 billion amount could change, the people familiar with the matter said. The discussions include the U.S. Department of Justice, the Securities and Exchange Commission, the U.S. Department of Housing and Urban Development and the New York State Attorney General, the sources said.