Date: Oct/08/2010 05:35 PM
NFL
Jersey on sale Litton Loan Servicing LP is the latest
mortgage company to halt some foreclosures and evictions so it
can review its process for handling foreclosures.Houston-based
Litton made the disclosure Friday in an e-mail to The Associated
Press. It didn't say which states are affected. The move comes
as numerous lenders review whether foreclosure documents they've
submitted to courts complied with state laws.Litton, owned by
Goldman Sachs Group Inc., is a mortgage servicer. It collects
payments but doesn't make loans.Four other mortgage companies —
Ally Financial's GMAC Mortgage unit, PNC Financial Services
Group Inc., Bank of America, and JPMorgan Chase — have
announced similar moves in the past two weeks.
The top regulator NFL
Jerseys for Fannie Mae and Freddie Mac said Friday that
government officials aimed to develop a tailored response to the
recent foreclosure-documentation controversy that wouldn't have
an adverse impact on the fragile housing market.The comments
came the same day Bank of America Corp. said it was temporarily
going to freeze foreclosure sales across the country as it
reviewed the process used by mortgage servicers to handle
foreclosures. Several other lenders had agreed to halt
foreclosure sales in certain states, but Bank of America's
announcement was the most sweeping.It is unclear if other large
mortgage servicers will follow suit, but several people familiar
with the matter have said banks Cheap NFL
Jerseys are facing growing pressure from Fannie Mae and
Freddie Mac to address deficiencies in their mortgage servicing
operations. Fannie Mae and Freddie Mac were created by Congress
to provide liquidity and stability to the housing market. The
companies were taken over by the government in 2008 and have
been run under a conservatorship by the Federal Housing Finance
Agency since that time.FHFA acting director Edward DeMarco
wouldn't comment specifically on the Bank of America decision.
But he said his agency was working with Fannie Mae and Freddie
Mac to determine the scope of the documentation issue and come
up with targeted ways to address the matter. Banks and
regulators are facing growing political pressure to act quickly,
with multiple politicians and state attorneys general insisting
in recent days on a broad freeze of foreclosures until the
matter is resolved Wholesale NFL
Jerseys.
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