Claims leading to the larger settlementrninvolve nearly 130 securities issued by JPM, Bear Stearns & Company andrnWashington Mutual (WaMu).  JPM acquiredrnthe latter two companies in 2008 as Bear Stearns faced bankruptcy and WaMu wasrnseized by the Federal Deposit Insurance Corporation.  About 80 percent of the claims are said tornhave involved securities issued by the two failed companies. </p

Under terms of the agreement JPM doesrnnot admit to any wrongdoing or liabilities. rnThe settlement does not indemnify the company from pending criminalrnactions in federal courts.</p

FHFA Acting Direction Edward J. DeMarcornsaid, “The satisfactory resolution of the private-label securities litigationrnwith J.P. Morgan Chase & Co. provides greater certainty in the marketplacernand is in line with our responsibility for preserving and conserving FanniernMae’s and Freddie Mac’s assets on behalf of taxpayers. This is a significantrnstep as the government and J. P. Morgan Chase move to address outstandingrnmortgage-related issues.  Further, I am pleasedrnthat a resolution of single family, whole loan representation and warrantyrnclaims could be achieved at the same time. This, too, will have a beneficialrnimpact for taxpayers and the housing finance market.”</p

FHFA has now settled 4 of thern18 PLS suits it filed in 2011.  Thernagency said it remains committed to satisfactory resolution of the pendingrnactions.

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