JPMorgan, BofA Sued by FHFA Over Mortgage-Backed Securities
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Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. were among the 17 lenders sued by the Federal Housing Finance Agency for allegedly misleading Fannie Mae and Freddie Mac about billions of dollars of residential mortgage-backed securities.
In lawsuits filed today in New York state and federal courts and in federal court in Connecticut, the agency also named as defendants Barclays Plc, Nomura Holdings Ltd., HSBC Holdings Plc Societe General SA, Morgan Stanley, Ally Financial, Royal Bank of Scotland, Credit Suisse Group AG, Deutsche Bank AG and First Horizon National Corp.