Foreclosure settlement with investment banks could be coming

Goldman Sachs Group Inc. (GS), Morgan Stanley (MS) and two other banks may agree as soon as this week to settle claims over botched foreclosures in an accord similar to one reached with 10 other loan servicers, two people briefed on the discussions said.

The agreement, also involving HSBC Holdings Inc. (HBC) and Ally Financial Inc. (ALLY), would end case-by-case reviews of foreclosures under earlier accords with the biggest mortgage servicers, said the people, who declined to be identified because the talks are private. The Federal Reserve-led discussions specified at least $1.5 billion in cash and assistance for borrowers, one of the people said.

http://www.bloomberg.com/news/2013-01-08/goldman-sachs-said-to-be-part-of-fed-led-foreclosure-settlement.html

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