Texas mortgage company halts some foreclosures so it can review handling of documentsBy Alan Zibel, AP
Friday, October 8, 2010
Texas mortgage company halts some foreclosures
WASHINGTON — 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.
Tags: Foreclosure Rates, North America, Products And Services, Real Estate, Texas, United States, Washington