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

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Ally Financial suspends evictions in 23 states. Cox said the Maine attorney general’s office is investigating the matter. The GMAC employee’s name also came up in several mortgage foreclosure cases in Florida that are being disputed. The attorney general there is investigating at least four law firms that process foreclosures there,

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Ally’s GMAC mortgage unit temporarily halts evictions in 23 states. The company, which renamed itself Ally earlier this year, spent $160,000 in the second quarter of this year to lobby Congress and the Federal Deposit Insurance Corp. on financial regulation, foreclosure prevention and other issues.

Bank of America Corp. on Friday suspended foreclosur sales in all 50 U.S. states, as it extends a review of foreclosure documents. Bank of America, the largest U.

ally bank – Consumerist – 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.

Monday Morning Cup of Coffee: Mortgage rates to set more record lows Monday Morning Cup of Coffee takes a look at news coming across the HousingWire weekend desk, with more coverage to come on the bigger issues. loanDepot got creamed last week with a pair of negative headlines. The top nonbank lender is notoriously mum when it comes to discussing the tough topics, so it’s no surprise they chose to keep quiet.

GMAC Denies Foreclosure Moratorium. Ally Financial denied claims that its subsidiary, GMAC Mortgage, instituted a foreclosure moratorium in 23 states. MINNEAPOLIS ( TheStreet) — Ally Financial’s mortgage servicing subsidiary, GMAC Mortgage, has not issued a moratorium on residential foreclosures, a spokeswoman told TheStreet on Tuesday.

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.

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 Midwest. In an internal memo dated sept. 17, marked "urgent," and addressed to brokers and agents of the company’s GMAC mortgage unit, were ordered to immediately halt evictions, cash-for-key transactions and lockouts.

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.

GMAC Mortgage told its agents and brokers to stop foreclosures on homes in 23 states, including Florida, Illinois, Indiana and Ohio, according to a media report. GMAC Mortgage told brokers to stop.