The Justice Department is looking into reports that U.S. financial institutions improperly foreclosed on houses, Attorney General Eric Holder said on Wednesday. Several states are investigating the practices of institutions like Ally Financial Inc, formerly known as GMAC, and JPMorgan Chase and Co, among others, and those two have suspended foreclosure proceedings in many states. The home lending unit of Ally has said that employees preparing foreclosures had submitted affidavits to judges containing information they did not personally verify, drawing outrage from homeowners, lawmakers and state prosecutors. “We are aware of the charges that have surfaced in the newspapers in the last couple of days and we’re looking at them,” Holder told reporters during a news conference on another matter.
Justice Department looking into home foreclosure mess
Most Popular Articles
Latest Articles
Did lower mortgage rates slow housing inventory growth?
After two weeks of significant increases, my model for inventory growth with higher mortgage rates came crashing down last week.
-
Labor market report is good news for mortgage rates
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts