Citigroup Inc. (NYSE:C), JPMorgan Chase & Co. (JPM), Bank of America Corp. (NYSE:BAC), Wells Fargo & Company (NYSE:WFC) and six other companies are paying the money to settle accusations by the Office of the Comptroller of the Currency and the Federal Reserve.
The government agreed to the settlement so homeowners could be paid, from $1,000 to $125,000, more quickly than if the mortgage servicers continued their time-consuming and expensive case-by-case review of each case, the Associated Press said.
![Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_thumbnail/public/2013/05/23/medea-benjamin.jpg "Obama Heckler Medea Benjamin Of Code Pink Acknowledged During President's Drone Speech: 'That Woman Is Worth Listening To' [VIDEO, PHOTO]")
![White Tiger Genetic Secret Unveiled: Single Mutation In Single Gene Removes Orange Color [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_thumbnail/public/2013/05/23/white-tiger-2-flickr-wikicommons_0.jpg "White Tiger Genetic Secret Unveiled: Single Mutation In Single Gene Removes Orange Color [PHOTOS]")
![English Defence League (EDL) Riots, Violence Escalates After Woolwich 'Beheading' [PHOTO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_thumbnail/public/2013/05/22/edlll.jpg "English Defence League (EDL) Riots, Violence Escalates After Woolwich 'Beheading' [PHOTO]")
![Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/22/helen-mirren-visits-dying-boy_1.jpg "Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]")
![Great GoogaMooga In Brooklyn: Music, Food And Disappointment As The Festival Gets Cancelled [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/21/matt-kim_4.JPG "Great GoogaMooga In Brooklyn: Music, Food And Disappointment As The Festival Gets Cancelled [PHOTOS]")
![Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/20/oklahoma-tornado_1.png "Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]")
![Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/20/keha-givenchy.jpg "Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]")
![Fort Worth Texas Tornadoes Claim 6 Lives: Pictures And Videos During The Storm And Its Aftermath [PHOTOS/VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/16/tornado.PNG "Fort Worth Texas Tornadoes Claim 6 Lives: Pictures And Videos During The Storm And Its Aftermath [PHOTOS/VIDEO]")
![5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_small/public/2013/05/22/amazons-biodome_0.jpg "5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]")
Like or Follow us for updates on the biggest stories!