Goldman Sachs, Morgan Stanley Close To Mortgage Probe Settlement

Goldman Sachs, Morgan Stanley and a few other banks are reportedly nearing settlements with federal and state authorities over billion-dollar payments related to sourced mortgages. Citing people familiar with the developments, The Wall Street Journal reports that up to nine banks are about to finalize the details of their settlement agreements. Goldman Sachs nearing $2 billion settlement According to The Wall Street Journal report, the banks are expected to pay from a few hundred million dollars to $2 billion or $3 billion each, depending on their size and the level of misconduct they allegedly employed in arranging the securities. Citing people familiar…