Fed releases bank plans to fix mortgage servicing

WASHINGTON (MarketWatch)
The Federal Reserve on Monday released action plans for correcting mortgage servicing delinquencies developed by nine large financial institutions after being sanctioned last year
The action plans are required by major banks that were sanctioned by the Fed last year for "negligence" in residential mortgage loan servicing and foreclosure processes
The nine institutions are Bank of America Corp. PNC Financial Serivces Group , Everbank, Wells Fargo &Co. , U.S. Bancorp , SunTrust Banks Inc. MetLife Inc.  J.P. Morgan Chase &Co nd Citigroup Inc.