The nation's attorneys general, the Department of Justice, and HUD are "very close" to finalizing a legal settlement to settle 'robosigning' allegations levied against the nation's dozen or so top ranked servicers, HUD secretary Shaun Donovan said Wednesday morning.

Speaking at U.S. Mayors Conference in Washington, Donovan said roughly one-million borrowers will receive some type of meaningful principal reduction on their mortgage debt.

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