I haven't read of too many cases where the wrong house was seized and besides there's already laws that give homeowners warnings before foreclosures and time to rectify the situation. If by chance there has been a wrongful foreclosure the courts are the ones designed to settle the score, not the bureaucrats in Washington.
Banks have no incentive to foreclose on properties that people are current on payments and obligations.
The banks have screwed this up sooooo badly that title insurance companies have nationally HALTED issuing title insurance to homes that have been foreclosed on.