California Attorney General Demands Halt To Foreclosures By Mortgage Giant

California Attorney General Demands Halt To Foreclosures By Mortgage Giant

California Attorney General Demands Halt To Foreclosures By Mortgage Giant

California Demands Halt To Foreclosures By Mortgage Giant

By Dale Kasler
dkasler@sacbee.com

Published: Friday, Sep. 24, 2010 – 11:39 am
Last Modified: Friday, Sep. 24, 2010 – 11:46 am
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California officials today demanded that Ally Financial Inc. stop foreclosing on homes in the state, citing reports indicating the big mortgage lender is violating the law.

The cease-and-desist letter, issued by Attorney General Jerry Brown, came as officials in several other states began investigating Ally’s operations.

The controversy stems from a Florida court case in which an Ally official reportedly testified that he signed thousands of documents in foreclosure cases without even reviewing the homeowners’ loan documents.

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2 Responses to “California Attorney General Demands Halt To Foreclosures By Mortgage Giant”

  1. Patrick Hake says:

    We see this same level of neglect during the resale of bank owned properties as well, not just during the foreclosure process. In an effort to streamline processes, they regularly leave tens of thousands of dollars on the table when selling properties, due to a stobborn commitment to appraised values and an unwillingness to make any repairs to properties before selling.

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