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VOL. 125 | NO. 204 | Wednesday, October 20, 2010

Federal Agencies Probing Foreclosure Problems

ALAN ZIBEL | AP Real Estate Writer

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WASHINGTON (AP) — The White House says federal agencies are investigating allegations of widespread errors in foreclosure documents.

White House Press Secretary Robert Gibbs says in a statement that an interagency task force on financial fraud has launched an investigation into the foreclosure process. He also says the Federal Housing Administration, a federal agency that guarantees mortgages, is investigating, too.

"We remain committed to holding accountable any bank that has violated the law," Gibbs says.

Gibbs says the administration supports an effort by attorneys general in 50 states to investigate the matter. Several administration officials, however, have said over the past week that they don't back a nationwide halt to foreclosures.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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