Federal agencies, state attorneys general and bank attorneys are set to gather in Washington, D.C., this week to again try to hammer out details of a potential multi-billion-dollar settlement with the country's largest mortgage servicers, according to a person familiar with the matter.
Tuesday, January 10, 2012
The deal is close but not imminent, the person said. A number of small issues remain on all sides, and a deal would need numerous levels of approval.
The settlement, would resolve potential government action over improper foreclosure practices, including "robo-signing" at Bank of America, Wells Fargo, and three other mortgage servicers. The dollar figure would likely fall in the range of $20 billion to $25 billion, according to multiple reports.
Posted by Andrew Dunn at 6:08 PM