The Federal Reserve Board announced enforcement actions against ten of the largest banks for alleged deficient practices in residential mortgage loan servicing and foreclosure processing. The Fed is requiring the parent holding companies to improve oversight of residential mortgage loan servicing and foreclosure processing. Banks that have servicing entities regulated by the Federal Reserve also are being required to correct alleged deficiencies in residential mortgage loan servicing and foreclosure processing identified by examiners during reviews conducted November 2010 to January 2011.