There should be a thorough investigation of problems with the foreclosure process but no moratorium, White House spokesman Robert Gibbs said today.
He said the administration fears "unintended consequences to a broader moratorium," such as a further decline in the housing market.
Some mortgage servicers have suspended foreclosure proceedings after concerns were raised about the verification process and the validity of some documentation.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
