WASHINGTON (Reuters) - U.S. Housing and Urban Development Secretary Shaun Donovan said on Wednesday a deal is days away among federal and state officials and major lenders aimed at resolving allegations of illegal foreclosure practices.
During a White House briefing, Donovan said that the final legal settlement will be reached “in the coming days” since states are currently reviewing the details to decide whether or not they will join.
The comments came as the HUD Secretary outlined a new proposal from the White House, which needs final approval from Congress, that allows more borrowers to lock into record low borrowing rates and refinance.
Reporting By Margaret Chadbourn
