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J.P. Morgan, WaMu Capital and Others Over $2.2bn in Faulty Securities


The National Credit Union Administration (NCUA) has filed suit in Federal District Court in Kansas against J.P. Morgan Securities as successor-in-interest to Washington Mutual Bank, alleging violations of federal and state securities laws in the sale of $2.2bn in mortgage-backed securities to three corporate credit unions.

Bank of America To Pay Fannie Mae $3.6bn In Mortgage Deal

Brian Moynihan With Batphone

Bank of America has announced agreements with the Federal National Mortgage Association (Fannie Mae) to resolve outstanding and potential repurchase and certain other claims relating to the origination, sale and delivery of substantially all residential mortgage loans originated and sold directly to Fannie Mae from January 1, 2000 through December 31, 2008 by entities related to Countrywide Financial Corporation (legacy Countrywide) and Bank of America, National Association (BANA).