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

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.

Ally Financial Inc.’s GMAC Mortgage unit, which suspended evictions in 23 states last week after finding employees didn’t verify foreclosure documents. say how many loans may be affected. The firm,

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Five major banks – Bank of America, JPMorgan Chase, Wells Fargo, Citibank and ally financial (formerly GMAC) – and U.S. states are "very close. In October 2010, major banks temporarily suspended.

Ally Financial, the troubled lender that received a massive federal bailout, has temporarily halted evictions on foreclosed homes in 23 states. the matter. The GMAC employee’s name also came up in.

NEW YORK, Sept 23 (Reuters) – Standard & Poor’s on Thursday said it may downgrade its ranking of GMAC Mortgage, one of the largest servicers of U.S. home loans, after internal processing procedures.

GMAC told brokers and agents to halt evictions tied to foreclosures on homeowners in 23 states including Florida, Connecticut and New York.

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 · JP Morgan is suspending foreclosures in 23 states, while they sort out questions about some of the documents filed in the cases. It is the second major mortgage lender to do this.

On Friday, Bank of America suspended foreclosures in 23 states to review its processes and fix affidavit-related issues. It joins JP Morgan Chase and GMAC/Ally in halting foreclosures in order to ensure the foreclosure process is carried out properly.

There was some confusion among outside observers about a Bloomberg story stating that Ally Financial Inc.’s GMAC Mortgage unit told brokers and agents to halt foreclosures on homeowners in 23.

 · JPMorgan and Ally’s GMAC Mortgage unit have delayed foreclosures in 23 states where courts have jurisdiction over home seizures. Bank of America suspended foreclosures as well, pending a.

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

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