US to sue four major banks

They are Bank of America, JP Morgan, Goldman Sachs and Deutsche Bank.

The reason: They did not observe due diligence when it comes to qualifying mortgages.

Expect to get 631 million euros.

The Federal Finance United States is preparing a lawsuit against more than a dozen banks for mortgage securities incorrectly assess that were granted in full burburja estate, according to the newspaper 'The New York Times.

The application shall be addressed, among others, against Bank of America, JP Morgan, Goldman Sachs and Deutsche Bank, as reported by three sources close to the case cited by the U.S. newspaper.

The agency argues that these big banks did not observe the diligence due to the time of rating mortgage securities, and that inflated their value, which was significantly reduced with the onset of debtors.

The application shall be made by Wednesday The agency mission is to recover millions in losses that resulted, and that most have had to meet Americans with tax increases. In particular, it seeks to recover from losses caused by the rating agencies Fannie Mae and Freddie Mac, worth about 30,000 million (21.043 million euros).

The New York Times says the agency hopes to get compensation from $ 900 million (631 million) , the same as that demanded in July to USB, another rating agency mortgage in a similar lawsuit.

The sources cited by the newspaper explained that the application shall be made before Wednesday when the deadline for filing claims under the summonses sent last year by the agency in these banks.

In parallel, fifty U.S. attorneys general preparing a lawsuit against several financial institutions, including Bank of America, JP Morgan and Citigroup for the abuses in mortgages. This expected gain of $ 20,000 million (14.029 million euros) that used to pay part of the mortgages at risk of foreclosure.