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6 banks in US slapped with more mortgage restrictions

They will also face additional fines; govt says they failed to improve their mortgage operations, as agreed in 2011

Because of the extent of their problems, HSBC and Wells Fargo will be barred from acquiring any new mortgage servicing rights from other banks.

New York

JPMORGAN Chase, Wells Fargo and four other large banks have failed to make long-promised improvements to their mortgage operations, a federal regulator said on Wednesday.

The six banks, and several others, had agreed in 2011 to make dozens of changes to the way they issue...

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