JPMorgan Chase & Co.’s negotiations with federal and state authorities to resolve a series of investigations tied to mortgage bonds is focusing on a potential $11 billion figure, including $4 billion for consumer relief, a person familiar with the talks said.

The amount isn’t final, said the person, who asked not to be identified because the negotiations aren’t public. Those involved in the talks include the Justice Department, the Department of Housing and Urban Development and New York General Eric Schneiderman, who is co-chairman of a federal and state working group on residential mortgage-backed securities.

An agreement could be reached as soon as Thursday, although the talks are still fluid and the size of the settlement keeps changing, according to another person familiar with the matter. The people said they weren’t sure which claims a deal would resolve.

JPMorgan is seeking to negotiate a resolution to mortgage- bond investigations being conducted by federal and state authorities, including probes by U.S. attorneys in Sacramento, Philadelphia and Washington, according to another person briefed on the effort.

The bank has also tried to settle a $6 billion claim by the Federal Housing Finance Agency, according to the person, who also asked not to be identified because the talks are private.

Joe Evangelisti, a spokesman for the New York-based bank, declined to comment on the talks.

Talks Ongoing

“Talks are ongoing. No announcement is anticipated today,” said Lauren Horwood, a spokeswoman for U.S. Attorney Ben Wagner in Sacramento, California. Wagner is one of the federal officials involved in the talks.

U.S. Attorney General Eric Holder told government negotiators that JPMorgan’s initial proposal fell far short of an acceptable payment amount, according to another person with knowledge of the case.

At the early stages of the negotiations this week, the company was proposing a settlement of $3 billion to $4 billion, a separate person with knowledge of the negotiations said. Those numbers were rejected by the government, said the person.

Adora Andy Jenkins, a Justice Department spokeswoman, declined to comment on the talks.