The nation's attorneys general, the Department of Justice and the U.S. Department of Housing and Urban Development (HUD) are “very close” to finalizing a legal settlement to settle 'robosigning' allegations levied against the nation's dozen or so top-ranked servicers, HUD secretary Shawn Donovan said Wednesday morning.

Speaking at U.S. Mayors Conference in Washington, Donovan said roughly one-million borrowers will receive some type of meaningful principal reduction on their mortgage debt.

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