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

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GMAC, the mortgage unit for Ally Financial, has suspended foreclosures in 23 states, according to a memo sent to its network of brokers and agents Sept. 17. In the memo provided to HousingWire.

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Ally Financial said its gmac mortgage unit had suspended evictions and sales of foreclosed residential properties in 23 US states while it conducted an internal review of its procedures, a rare.

Ally Financial, a unit of GMAC Mortgage, again faces charges that employees did not verify foreclosure documents and will delay tens of thousands of foreclosures in 23 states. Ally was sanctioned.

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Colorado Attorney General John Suthers has asked Ally Financial Inc., parent of GMAC. the request in a letter Monday to Ally officials. GMAC Mortgage last week suspended foreclosure evictions in 23.

Ally Financial Inc.’s mortgage unit has temporarily suspended evictions and some bank-owned closings on homes in 23 states mostly on the East Coast and in the Midwest. In an internal memo dated.

GMAC has told brokers and agents to immediately stop evicting homeowners in 23 states. In a memo, the Ally Financial Inc. subsidiary cited "corrective action in connection with some foreclosures.

Ally Financial/GMAC Mortgage fraud exposes thousands of foreclosures to scrutiny – foreclosed owner evictions and resales of foreclosed homes in 23 states, until it can sort this all out. If you’re in the midst of the foreclosure process and Ally Financial/GMAC Mortgage has been.

Ally Financial said Tuesday that its GMAC mortgage unit has hired legal and accounting firms to conduct independent reviews of its foreclosure procedures in all 50 states. Ally’s move comes just days after Bank of America expanded its freeze on foreclosure sales from 23 states that require a court order for an eviction to all states.

MINNEAPOLIS, Sept. 20, 2010 –Recent reports have stated that GMAC Mortgage instituted a moratorium on all residential foreclosures in 23 states. This is not true. In fact, all new residential foreclosures are continuing in the ordinary course of business with no interruption in our usual practice.

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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.

GMAC Mortgage said Monday that recent media reports stating that the lender has instituted a moratorium on all residential foreclosures in Minnesota and 22 other states are not true. The company.

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