UPDATE 1-S&P may pay $1.5 bln over mortgage ratings - source
January 20, 2015 at 16:05 PM EST
NEW YORK, Jan 20 (Reuters) - Standard and Poor's is in talks to pay as much as $1.5 billion to settle U.S. government lawsuits over mortgage ratings issued in the run-up to the 2008 financial crisis, a person familiar with the matter said on Tuesday.