The Securities and Exchange Commission (SEC) is investigating disclosure, misrepresentation, and omission issues.
Both the Federal Housing Finance Agency (FHFA) who regulates Fannie Mae and Freddie Mac and the Office of the US Controller of Currency have requested reviews of major banks.
HUD is also on the warpath and has the authority to fine or sanction banks.
Please go to this link to Cspan's excellent coverage of the Congressional investigations of the subject: http://www.c-spanvideo.org/videoLibrary/search-results.php?keywords=mortgage+servicer+foreclosure+practices
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