Government To Lenders: Reimburse Homeowners Or Else! (BAC, C, JPM, WFC)

The federal government has told several different mortgage lenders and servicers today that they must reimburse homeowners who were incorrectly foreclosed upon. The Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency told Ally Financial Inc., Aurora Bank, Bank of America BAC, Citibank, Citigroup Inc. C, EverBank, HSBC HBC, JPMorgan Chase JPM, MetLife Bank MET, OneWest Bank, PNC PNC, Sovereign Bank STD, SunTrust Banks STI, U.S. Bank USB and Wells Fargo WFC. The service providers mentioned are Lender Processing Services and MERSCORP.