Federal housing agency announces $5.1 billion JPMorgan deal

Friday, 25 Oct 2013 | 5:03 PM ET

Oct 25 (Reuters) - The U.S> Federal Housing Finance Agency said on Friday that JPMorgan Chase & Co has agreed to pay $5.1 billion to settle its claims that the bank and companies it bought during the 2007-2009 financial crisis misled housing finance agencies about the quality of mortgage securities and home loans during the housing boom.

The settlement is part of a tentative $13 billion deal that the bank is trying reach with federal and state agencies over its mortgage liabilities.

(Reporting by David Henry in New York and Aruna Viswanatha in Washington)

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