When the state tightened its foreclosure rules in response to the document crisis, it ordered the six largest servicers to explain why they should be allowed to continue foreclosing on homes. In effect, their response went some…
GMAC, which is a unit of Ally Bank, has hired a number of accounting and legal firms to go over its foreclosure procedures.
Continue reading GMAC Will Review Foreclosures in All 50 States
GMAC Wi…
The state’s House Democratic delegation has asked the Justice Department, the Fed and Controller of the Currency to investigate the widespread — and growing — problem of faulty bank documents in foreclosure cases. One agency …
Several big banks have admitted that their employees routinely sign scads of foreclosure documents without verifying their information. Wells Fargo and CitiMortgage have denied engaging in similar practices. Yet new evidence sh…
Bank of America Corp. will delay foreclosures on properties in 23 states to review whether its employees signed off on foreclosure documents without reading them, making the largest U.S. bank at least the third in recent weeks …