Banks, DOJ Discuss Foreclosure Penalties

"epartment of Justice (DOJ) over how to handle penalties incurred for improper handling of foreclosures. The DOJ suggested a $20 billion fund created for homeowners who have been mishandled by banks like JPMorgan Chase, Bank of America and Wells Fargo. The lenders countered with a total settlement amount of $5 billion, which was then rejected by the DOJ. Despite the disagreement, industry analysts believe a conclusion will come within the next few weeks as the real estate market continues to weaken and banks are further hampered by federal scrutiny. For more on this continue reading the following article from The Street."