The U.S. Department of Justice is asking Bank of America Corp BAC.N to pay more than $13 billion to settle allegations the bank overstated the quality of mortgage bonds it sold during the housing bubble, according to Bloomberg News. Sources familiar with that matter told Reuters on Thursday that discussions were in very early stages, and at least one source said the $13 billion figure is not currently on the negotiating table. CNBC News reported that Bank of America's mortgage securities settlement could exceed $10 billion. Any settlement with the Justice Department would be in addition to the $9.5 billion accord it reached with the Federal Housing Finance Agency to resolve similar litigation over residential mortgage securities, according to Bloomberg News. A possible agreement to resolve federal and state investigations could come within the next two months, according to people familiar with the matter cited by Bloomberg. A Bank of America spokesman declined to comment. A Department
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