Four Takeaways from JPM's Massive $13B Mortgage Settlement

JPMorgan's $13 billion settlement includes roughly $4 billion paid to the FHFA for loans that were sold to Fannie Mae and Freddie Mac. But FHFA has sued several other big banks, including Bank of America (BAC), Royal Bank of Scotland (RBS), Deutsche Bank (DB) and 10 others. The FHFA sued 18 banks in 2011 over allegations that they misrepresented the quality of loans packaged into bonds near the peak of the housing bubble. So far, only Citigroup (NYSE:C), General Electric (GE), UBS AG have settled.

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