JPMorgan Chase Reaches $4.5 Billion Settlement Over Housing Collapse

NEW YORK - JPMorgan Chase & Co

The bank will make a binding offer to the trustees of 330 residential mortgage-backed securities trusts issued by the bank and Bear Stearns, which it took over during the financial crisis, the person said.

The settlement does not include trusts issued by Washington Mutual, which JPMorgan also acquired, the person said.

(Reporting by Karen Freifeld; Editing by Gary Hill)