http://online.wsj.com/article/SB10001424052748703440004575548393691124552.html
While GMAC has set up to review thei foreclosures in all 50 states, they will carry on with foreclosures.
No loan numbers or counties recorded to track the titles but GMAC still continues to think it can carry on business as usual lol.
Foolish is as foolish does.
The loans foreclosed on from this day forth, should carry a special penalty for GMAC, because at this point in time the whole country knows what GMAC refuses to acknowledge, that the mortgage banking industry purposely as well as willfully committed an act of fraud in the non transference of title obligation to their investors or MBS.
GMAC Mortgage is initiating an independent review of foreclosures in all 50 states and examining foreclosure sales nationwide to ensure procedures and documentation are accurate.
A unit of Ally Financial Inc., GMAC Mortgage was among the first companies to temporarily suspend evictions in the 23 states where court approval is required to foreclose. The new step involves "several legal and accounting firms" that will conduct "independent reviews" in all 50 states, but doesn't involve a halt of all foreclosures. A "specialized team" will look for errors in foreclosure-sale files nationwide, the company said
