WASHINGTON — Six banks including JPMorgan Chase and Wells Fargo have been placed under further business restrictions after the Office of the Comptroller of the Currency determined they had yet to fully meet regulatory orders related to the independent foreclosure review which began in 2011.

The agency said Wednesday that six out of nine banks that were still under orders from the foreclosure review process must now comply with additional business restrictions that limit new servicing contracts, acquisitions and outsourcing. The restrictions vary for each bank but the OCC banned promotions of senior officers in the mortgage servicing operations at all of the banks. The remaining four institutions cited by the OCC are HSBC Bank USA, Santander Bank, U.S. Bank and EverBank.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry