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Four major firms said near mortgage-service accord
TEL AVIV (MarketWatch) -- Four major banks -- Goldman Sachs, Morgan Stanley, HSBC Holdings and Ally Financial -- may agree to a mortgage settlement similar to the one that 10 other loan-servicing firms have reached, people briefed on the discussions told Bloomberg News. In a late Tuesday report, the news service said the settlement may come as soon as this week. It would end individual reviews of foreclosures that were planned under earlier agreements with the mortgage-servicing firms, these people told Bloomberg News. The latest discussions, led by the Federal Reserve, could reach a settlement valued at $1.5 billion of assistance for the borrowers, Bloomberg reported.
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