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

 · GMAC Mortgage, one of the nation’s largest servicers of home loans, said it is suspending sales of foreclosed homes and putting a moratorium on evictions of borrowers who have fallen behind on their mortgages in 23 states. The company, a unit of Ally Financial Inc., which is majority-owned by the U.S. government, – snip –

GMAC Mortgage, a unit of Ally Financial Inc., said Tuesday that it has enlisted legal and accounting firms to conduct independent reviews of its foreclosure procedures in all 50 states. GMAC has.

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 · Bank of America halts all foreclosure sales. jpmorgan chase had no comment on Friday’s announcement by Bank of america. ally financial, previously known as GMAC, the finance arm of General Motors, has also paused foreclosures in the 23 states. However, Citigroup said it is making no changes in its foreclosure procedures.

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BofA suspends foreclosures in 23 states – Reuters – 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.

Bank Of America Suspends Foreclosures In All 50 U.S. States – Bank of America, the largest U.S. mortgage servicer, had last week suspended all foreclosure proceedings in the 23 states where foreclosure must be approved by a judge. J.P. Morgan Chase & Co. (JPM) and GMAC Home Mortgage Inc., a unit of Ally Financial Inc.,

You don’t often hear about the bank perpetrating the fraud. Until now. Ally Financial’s home loan unit, GMAC Mortgage, has a 13-person team dedicated to processing and signing all the foreclosure.

One of the nation’s largest mortgage. has suspended certain evictions and sales of foreclosed homes in 23 states, including Hawaii, as it corrects "a potential issue" in its foreclosure process..

Ally Financial Inc.’s GMAC Mortgage unit, which suspended evictions in 23 states last week after finding that employees didn’t verify foreclosure documents, was sanctioned in 2006 for similar.

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J.P. Morgan Chase & Co. on Wednesday suspended foreclosures in the 23 states where they are handled through the courts, a move that could affect 56,000 home loans that are currently in some stage of the foreclosure process. gmac home mortgage Inc., a unit of Ally Financial Inc., announced last month that it would suspend foreclosures in 23.