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claims over mortgage investments. JPMorgan Chase will pay more than $5 billion to resolve claims from Freddie Mac and Fannie Mae . Those quasi-government agencies bought loads of investments from JPMorgan that were tied to mortgages. All of those
assistance until the end of October. BUT NOT THIS: It will be business as usual for borrowers seeking loans guaranteed by Fannie Mae and Freddie Mac, which together own or guarantee nearly half of all U.S. mortgages and 90 percent of new ones
That plan will include mortgage reforms to shift responsibility to banks and end the reliance on giant agencies like Fannie Mae and Freddie Mac, which gambled with mortgage money and needed billions in government bailouts. Later on Tuesday, Obama