(Reuters) - major banks are willing to pay $ 5 billion to settle claims by federal officials and mortgage foreclosure illegitimate practices States, the Wall Street Journal reported, citing people familiar with the situation.
Banks offer comes as the State and the companies of mortgage loan and federal officials continue their efforts to strike a settlement of the investigations sparked by allegations of "robo-signature" and other dubious practices of foreclosure which came to light last fallsaid the newspaper.
Banks intend to propose as much as $ 5 billion be used to compensate the borrowers already done harm to the foreclosure of the process and provide assistance to the transition for borrowers who are excluded from their homesthe WSJ said, citing people familiar with the case.
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