Goldman, Morgan Stanley pay $557M in mortgage case - Winston-Salem Journal: Business News

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Goldman, Morgan Stanley pay $557M in mortgage case

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Posted: Wednesday, January 16, 2013 9:04 pm

WASHINGTON - Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

The agreements announced Wednesday with the Federal Reserve were similar to deals struck earlier this month with 10 other major banks and mortgage lenders. Combined, the 12 firms will pay more than $9 billion.

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