Among the beneficiaries of the recent big bank settlement will be the Federal Housing Authority, which is slated to receive roughly $1 billion, officials said February 13.

The five largest mortgage-lending banks in the country recently reached a $25 billion settlement in a government investigation into their role in the housing market collapse. FHA had run into some financial trouble following the collapse - the agency insures roughly 33 percent of mortgages in the country, and could run out of money this year, according to a Reuters report. The agency also plans to increase premiums on loans to raise money.

The $1 billion in settlement money could help FHA avoid being forced to take money out of the U.S. Treasury. If it runs out of money, the agency would have no choice but to take up to $688 million from the national coffers, according to Reuters.

The Department of Veterans Affairs is another government agency that guarantees home loans. VA home loans topped 357,000 in 2011, an increase of more than 14 percent from the previous year, according to recent VA data.

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