JPMorgan Chase, Wells Fargo, HSBC, US Bank, Santander and EverBank are facing new restrictions on their mortgage-lending businesses for failing to clean up their foreclosure practices, The Washington Post's Danielle Douglas-Gabriel reports. The restrictions were announced this week by the Office of the Comptroller of the Currency.
The banks are being barred from servicing loans for which they handle payments on behalf of other financial institutions that hold those mortgages on their books.
Wells Fargo failed to comply with 15 of 98 items banks have been asked to fix by regulators, while HSBC failed to comply with 45 of 98 items, Douglas-Gabriel reports..
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