TPM News

JPMorgan Paying $5.1B In Fannie, Freddie Deal

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AP Photo / Mark Lennihan

JPMorgan sold tens of billions in mortgage securities to Fannie and Freddie, according to the agency. The securities soured after the housing bubble burst in 2007, losing billions in value.

The government rescued Fannie and Freddie during the financial crisis when both were on the verge of collapse. The companies received taxpayer aid totaling $187 billion. They have since become profitable and repaid $146 billion.

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