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"The Consumer Financial Protection Bureau said Wednesday that it has launched investigations at banks and other financial firms after finding myriad problems in the way they service residential mortgages . . . a report released Wednesday by the CFPB shows that many companies have not cleaned up their acts.

Examiners at the bureau found that mortgage servicers, which collect loan payments and handle loan modifications and foreclosures, engage in sloppy payment processing that can result in extra fees for homeowners."
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