Federal banking regulators Wednesday afternoon dropped their regulatory "bomb" on the nation's largest residential servicers — and two of their top outside vendors — accusing the firms of a "pattern of negligence and misconduct" tied to the processing of loans.

Among the nation's top ranked servicers, no one was spared. Formal charges were filed against Bank of America ($2.1 trillion in receivables/market share of 21.57%); Wells Fargo & Co. ($1.8 trillion in MSRs); JPMorgan Chase ($1.2 billion); CitiMortgage ($601 billion); and Ally Financial/Residential Capital Corp. ($384 billion).

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