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On Friday October 8, 2010, 5:46 pm EDT
By Joe Rauch
CHARLOTTE, North Carolina (Reuters) - U.S. lawmakers pushed for the country's largest mortgage lenders to suspend foreclosures in all 50 states after Bank of America Corp announced on Friday it would temporarily halt evictions nationwide.
BofA, the largest U.S. mortgage servicer, is the first U.S. bank to institute a nationwide freeze on foreclosures, expanding on a 23-state suspension announced last week while it conducts a review of its procedures.
Disclosures that some big U.S. mortgage processors filed false affidavits in thousands of foreclosure cases is drawing fresh scrutiny to an industry already in the sights of regulators and lawmakers for its role in the financial crisis.
By Joe Rauch
CHARLOTTE, North Carolina (Reuters) - U.S. lawmakers pushed for the country's largest mortgage lenders to suspend foreclosures in all 50 states after Bank of America Corp announced on Friday it would temporarily halt evictions nationwide.
BofA, the largest U.S. mortgage servicer, is the first U.S. bank to institute a nationwide freeze on foreclosures, expanding on a 23-state suspension announced last week while it conducts a review of its procedures.
Disclosures that some big U.S. mortgage processors filed false affidavits in thousands of foreclosure cases is drawing fresh scrutiny to an industry already in the sights of regulators and lawmakers for its role in the financial crisis.
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