Alarmed by significant deficiencies uncovered as part of a regulatory review of mortgage servicer practices, the federal banking agencies are preparing formal enforcement actions against the largest servicing firms that they hope will set de facto standards across the industry, according to sources familiar with the situation.

The enforcement orders are expected to hit most, and possibly all, of the 14 mortgage servicers reviewed by regulators after foreclosure problems surfaced in the press last year, but the largest firms — including Bank of America Corp., JPMorgan Chase, Wells Fargo, and Ally Financial  — are likely to face the toughest requirements, due to the sheer number of issues that must be addressed, sources said.

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