Aggrieved homeowners ensnared by a foreclosure system riddled with misconduct and error are set to get their first shot at winning some cash back from the banks.

Under orders from federal regulators, 14 mortgage servicers on Tuesday began mailing out 4.3 million letters to potential victims of wrongful foreclosure practices. The letters will invite borrowers to submit their cases for a free review by independent consultants that are funded by the lenders but vetted by regulators.

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