Ten banks and mortgage servicing companies have agreed to pay more than $8.5 billion in cash payments and other assistance to borrowers as part of the federal mortgage foreclosure settlement, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board announced today. Read the full news release along with with news coverage of the deal:

Banks to pay $8.5 billion in foreclosure settlement – CNN

OCC reaches $8.5 billion foreclosure review deal with 10 servicers – HousingWire

Banks including BofA, JPMorgan, Wells Fargo agree to pay $8.5B for wrongful foreclosures – Washington Post