WASHINGTON — Tens of thousands of homeowners who took out mortgages with Goldman Sachs and Morgan Stanley will begin to receive their settlement payments this week for botched foreclosure practices.

The two financial institutions will dole out a total of $247 million in direct payments to more than 220,000 borrowers whose homes were in the foreclosure process between 2009 and 2010, the Federal Reserve Board said on Monday. Payments will start on Friday, May 3.

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