Ten major banks and mortgage companies are settling with federal regulators over accusations they wrongfully foreclosed on homeowners.

Jonathan Lippman, chief judge of the state of New York, talks about his plans for a separate youth court and to settle foreclosure cases.

The U.S. Housing Secretary praised the federal-state settlement endorsed by the state’s Attorney General on Friday, saying help is on the way for homeowners facing foreclosure.

Since early 2007, 4 million families have lost their homes to foreclosure. Only now have state officials around the country begun to finalize a multi-billion dollar settlement with the biggest mortgage-providing banks that engaged in abusive or misleading practices, like robo-signing. Some critics, including those who have already had their homes go underwater, worry that it may let the banks off too easily.