JPMorgan Chase could reach a multi-billion deal to settle scores of mortgage-related investigations and lawsuits as early as Tuesday, The Post has learned.
The banking giant has been talking to federal and state officials about cutting one large check — around $11 billion — to settle the bulk of claims related to the sale of mortgage-backed securities leading up to the financial crisis.
Although sources cautioned that talks could still fall part, the potential deal under discussion includes at least $7 billion in cash and another $4 billion in relief for debtholders.
JPMorgan boss Jamie Dimon had a face-to-face meeting with US Attorney General Eric Holder to try and hash out a wide-ranging settlement with a number of agencies, including the Department of Justice, the Federal Housing Finance Agency and the New York attorney general’s office.
Sources described Dimon’s hour-long chat with Holder and Justice Department officials on Thursday as “very constructive.”
The DOJ and other officials could hold up the sweeping JPMorgan settlement as a model for striking agreements with other big banks facing similar mortgage-related debt claims.
One reported sticking point for JPMorgan has been whether to admit to wrongdoing as a part of any agreement.
The nation’s biggest bank was saddled with about 70 percent of the dubious mortgage debt when it agreed to acquire faltering Bear Stearns and Washington Mutual during the financial crisis at the prompting of government regulators.