Same as it ever was...

New study confirms allegations made by state prosecutors that some of the nation’s biggest banks are violating the terms of the $25 billion national mortgage settlement, the landmark agreement to clean up shoddy foreclosure practices.

The court-appointed monitor of the settlement on Wednesday issued a report saying Citigroup, Bank of America, Wells Fargo and JPMorgan Chase have dragged their feet in processing homeowners’ requests for lower monthly loan payments.

The most common problem found among the servicers, in particular at Citigroup, Bank of America and Wells Fargo, was failure to notify homeowners of any missing documents in their modification requests within five days of receipt, according to the settlement monitor, Joseph A. Smith Jr. Citigroup and Bank of America were also cited for providing inaccurate information in letters they must send to borrowers before beginning a foreclosure.