Ten banks to pay $8.5 billion to end foreclosure reviews

A group of ten mortgage servicers agreed on Monday to pay a total of $8.5 billion to end a government-mandated case-by-case review of foreclosures in an acknowledgement the reviews had proven too cumbersome and expensive. Bank of America Corp (BAC.N), Citigroup Inc (C.N), JPMorgan Case & Co (JPM….

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Ten banks to pay $8.5 billion to end foreclosure reviews

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