Political Economy - Illinois becomes fourth state to suspend Ally Financial foreclosures: "The legitimacy of foreclosures handled by the company came into question after Ally said on Sept. 20 that it had found irregularities in the preparation of documents submitted to courts in support of the actions. An employee of the company's GMAC unit, 'robo-signer' Jeffrey Stephan said he signed off on up to 10,000 documents a month without reviewing them thoroughly.
Illinois was already on the list of 23 states in which Ally had halted evictions and resales of homes that were repossessed. The regulator's request broadens the moratorium to foreclosure actions in the early part of the process.
By Ariana Eunjung Cha �|�Septemb"