Feds, states, banks agree on $25 billion mortgage settlement

Thursday, February 9, 2012 | 10:40 a.m. CST; updated 10:46 a.m. CST, Thursday, February 9, 2012

WASHINGTON — Federal officials say the five largest mortgage lenders have reached a $25 billion settlement with 49 states over foreclosure abuses that took place after the housing bubble burst. They will have three years to fulfill the terms of the landmark deal announced Thursday.

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