JP Morgan confirms $4.5bn mortgage settlements

<p>Further mortgage settlements have been revealed by JP Morgan.</p>

A further major settlement has been confirmed by JP Morgan, which is continuing to settle up with investors and other companies in the wake of the mortgage securities scandal.

The US bank has announced it is now going to pay $4.5 billion (£2.8 billion) to the investors who lost money as a result.

JP Morgan spokeswoman Jennifer Zuccarelli revealed in a statement that the mortgages involved were sold between 2005 and 2008.

"This settlement is another important step in JP Morgan's efforts to resolve legacy related… matters stemming from mortgage-related securities," she said in a statement.

Fannie Mae and Freddie Mac have already received payments from JP Morgan in the last few weeks as a result of the mortgage securities crisis.

JP Morgan's share price held firm on Friday (November 15th) when the news of the latest payout was confirmed. Its stocks will trade at around 54.87 when the New York Stock Exchange opens.

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