Ally Financial, formerly GMAC Mortgage, suspends foreclosures in 23 states

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OHIO ATTORNEY GENERAL SUSPECTS 'THOUSANDS' OF CASES OF FORECLOSURE FRAUD NEW YORK, Sept 24 (Reuters) – GMAC Mortgage, one of the largest servicers. The company said it has suspended evictions and post-foreclosure closings in 23 states. It has not halted foreclosure.

 · Problems with foreclosure documents have led Ally Financial Inc.’s GMAC Mortgage and JPMorgan Chase & Co. to suspend foreclosures in 23 states, and Bank of America Corp. has suspended foreclosures in all 50 states.

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 · Homeowners who are facing foreclosure by Ally, formerly known as GMAC Mortgage, or have a complaint about another mortgage company, are urged to call the state at 800-532-8785.

22 (UPI) — One of the largest U.S. mortgage lenders suspended foreclosure evictions this week because of a potential legal glitch, company officials say. Ally Financial. the Post Tuesday they used.

A mortgage employee charged with reviewing 10,000 foreclosure. in 23 states this week, the Washington Post reports. Other companies, including Fannie Mae and Freddie Mac, may also be affected.

 · In addition to PNC and Bank of America, Ally Financial’s GMAC Mortgage unit and JPMorgan Chase & Co. have announced similar moves in the past two weeks. In some states, lenders can foreclose quickly on delinquent mortgage borrowers. By contrast, the 23 states use a.

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Bank of America said on Friday it is delaying foreclosures in 23 states to review whether it has been conducting them properly. Two other big lenders-JPMorgan and Ally Financial’s GMAC Mortgage-have already suspended foreclosures.. Also, a maine state court judge reprimanded GMAC Mortgage for how it repossesses homes.

 · Ally Employee’s Admission Could Pave Way to Nationwide Foreclosure Challenges. Ally Financial employee Jeffrey Stephan made the admission in a deposition, spurring his employer to halt evictions of homeowners in 23 states this week, the Washington Post reports. Other companies, including Fannie Mae and Freddie Mac, may also be affected because they used Ally, formerly.

Bank of America said on Friday it is delaying foreclosures in 23 states to review whether it has been conducting them properly. Two other big lenders – JPMorgan and Ally Financial Inc.’s GMAC Mortgage – have already suspended foreclosures. Also, a Maine state court judge reprimanded GMAC Mortgage for how it repossesses homes.