Mortgage servicers offer $5 billion settlement
Five major mortgage servicers, including Wells Fargo & Co., have proposed paying $5 billion to settle a probe of their foreclosure practices by state and federal officials. The banks made the proposal yesterday during settlement talks in Washington, D.C., after state attorneys general and federal officials offered revised settlement terms and a proposal for banks to fund principal writedowns for homeowners. Iowa Attorney General Tom Miller is leading the negotiations for the states.
Trending News
