The monitor of the $25 billion national mortgage settlement gave the top five servicers passing grades overall in his first compliance review, but their shortcomings have angered borrowers and in some cases require payment of further compensation.

Bank of America (BAC), Citigroup (NYSE:C) and JPMorgan Chase (JPM) each got dinged for multiple violations, according to a summary of servicers' compliance reports released Wednesday. Missteps included improper cancellations of forced-place insurance policies, failure to notify loan mod applicants of missing documents and the start of foreclosure processes before notifying borrowers.

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