Independent Firms To Review GMAC Foreclosures Nationwide

Posted by Orb Staff on October 13, 2010 No Comments
Categories : Mortgage Servicing

6882_gmac_logo Independent Firms To Review GMAC Foreclosures Nationwide GMAC Mortgage says it has engaged several legal and accounting firms to conduct independent reviews of its foreclosure procedures in each of the 50 states.

Additionally, a ‘specialized team’ is reviewing foreclosure-sale files nationwide to ensure home-preservation procedures have been fully followed, the timing and substance of the foreclosure is appropriate and the file itself complies with all laws and requirements, the company says. GMAC did not identify the legal and accounting firms tapped to conduct the independent reviews.

GMAC Mortgage says its review and remediation activities related to cases involving judicial affidavits in the 23 states continues and has been under way for about two months, adding that it has found no evidence of any inappropriate foreclosures to date.

SOURCE: GMAC Mortgage

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