14 banks expected to settle over home-loan practices

12/31/2012 | New York Times (tiered subscription model), The

Under a behind-the-scenes deal crafted over the past month, 14 lenders would pay $10 billion, and the federal government's efforts to hold them accountable for foreclosure abuses would end. The emerging deal arose from regulators' realization that a mandatory review of millions of loans was overly time-consuming and wasn't producing meaningful results, according to people familiar with the negotiations.

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New York Times (tiered subscription model), The

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