Federal regulators are forcing four additional mortgage servicers to initiate corrective actions against deficiencies in the foreclosure process, the Office of Thrift Supervision said.
The regulatory agency issued actions against Aurora Bank, EverBank, OneWest Bank and Sovereign Bank, saying "swift and comprehensive action" is needed to remedy deficiencies in the foreclosure process. Together, the four firms handle about three percent of all first-lien mortgages, according to OTS.
Aurora, EverBank, OneWest and Sovereign Bank, along with 10 other servicers and servicing technology firms, received enforcement orders from regulators after federal agencies said they found deficiencies in the handling of foreclosures.
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