The 50-state attorneys general's investigation into the foreclosure scandal might be close to a settlement, reports indicate.
CNBC reported that Bank of America, JPMorgan Chase and the 50-state attorneys general are nearing a settlement that would call for banks to pay into a fund for foreclosed borrowers.
Royal Bank of Scotland analysts anticipated that banks will agree on a financial settlement with the state attorney generals in the range of $1.3 billion to $4.3 billion.
The settlement with the attorney generals, the CNBC report said, would include banks doing away with dual-track modifications as well as foreclosures settlements delayed for at least a month.
Banks might also reportedly consider principal writedowns as part of the deal. The final settlement is expected to be a month away, according to CNBC.
