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Financial Fraud Law

Ohio Seeks Preliminary Injunction In GMAC/Ally Mortgage Foreclosure Case

 Ohio today asked a state court for a preliminary injunction to prevent GMAC Mortgage LLC from completing foreclosure sales in the state based on allegedly faulty affidavits. 

Ohio Attorney General Richard Cordray filed suit October 6 against (i) GMAC, (ii) its parent, Ally Financial Inc., and (iii) one of its employees, Jeffrey Stephan, in the same Ohio state court. The lawsuit alleges that GMAC and its employees committed fraud on Ohio consumers and Ohio courts by signing and filing at least hundreds and potentially thousands of false affidavits in foreclosure cases. Cordray contends that “the fraud” came to public light after Stephan testified in depositions out of Florida and Maine that he signed thousands of affidavits without personal knowledge or verifying the content.
Today’s request for a preliminary injunction seeks an order requiring that GMAC stop its allegedly faulty affidavit practices while the lawsuit is pending.
"These so-called 'robo-signed' affidavits disrespect the courts and the private property rights of homeowners," Cordray said. "As we seek to uncover the extent to which GMAC used such tactics, we are taking this action today to make sure that these faulty affidavits are no longer used in foreclosure proceedings."
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