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Loan Modification

: Flipping Frenzy

Ally Financial/GMAC Mortgage fraud exposes thousands of foreclosures to scrutiny

By Ralph Roberts

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Normally, the phrase “mortgage fraud” evokes images of borrowers lying on their loan applications or, more recently, foreclosure rescue scams. You don’t often hear about the bank perpetrating the fraud. Until now. Ally Financial’s home loan unit, GMAC Mortgage, has a 13-person team dedicated to processing and signing all the foreclosure and eviction paperwork. The head [...]

Full post as published by Flipping Frenzy on September 26, 2010 (boomark / email).

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