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Goldman Sachs Suspends Evictions and Foreclosures

by Dan Burrows Nov 9th 2010 11:40AM
Updated Nov 9th 2010 11:42AM
Goldman Sachs's (GS) mortgage-servicing business has temporarily suspended evictions and foreclosures in a number of unnamed states, the investment bank disclosed in a regulatory filing today.

Goldman said it's reviewing loan practices at Litton Loan Servicing, the firm's residential mortgage-servicing subsidiary, in response to requests from regulators and states attorneys general who are scrutinizing the banking industry's foreclosure practices.

"Litton has temporarily suspended evictions and foreclosure and real estate-owned sales [properties in foreclosure that didn't get resold and revert back to the lender] in a number of states, including those with judicial foreclosure procedures," Goldman said in the filing. "As of the date of this filing, the firm is not aware of foreclosures where the underlying foreclosure decision was not warranted."

Goldman added that as of Sept. 30, the value of its mortgage-servicing rights was not material, and any impact on their value would not be material to the firm.

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k4jlp

micky kinda agree with you on the PATTON part, he took NO BS from anyone...got to go to work, everyone have a good day...

November 10 2010 at 8:52 AM Report abuse +1 rate up rate down Reply
k4jlp

mickylitz I see ZERO difference between REPUKES and DEMOCRAPS...they are both bought and sold by corporate America and no you can't 'LABLE" me a a "LIB"...you can call me a man with COMMON SENSE" who calls them as I see them with NO BS...I suppose you voted for GW and drive a Ford truck right?

November 10 2010 at 8:26 AM Report abuse rate up rate down Reply
1 reply to k4jlp's comment
Mickylitz

k4jlp 8:26 AM Nov 10, 2010 • mickylitz I see ZERO difference between REPUKES and DEMOCRAPS...they are both bought and sold by corporate America and no you can't 'LABLE" me a a "LIB"...you can call me a man with COMMON SENSE" who calls them as I see them with NO BS...I suppose you voted for GW and drive a Ford truck right? &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& k4jlp........I see a bit of difference between the two party, not a whole lot yet but I am hoping that after the democrat fiasco the republicans will go back to their conservative ways and stop this spending madness before we boot them out as well, as for the democrats I don't see any improvement possible, they've been going down this road as Far as I can remember. And yes I voted for GW and would do it again given the choice compared to what leads this country now but in all honesty I would much prefer voting for a guy like Patton that would take care of political correctness. I never owned a FORD nor truck.................

November 10 2010 at 8:43 AM Report abuse rate up rate down Reply
k4jlp

IF EVERYONE KNEW HOW MUCH WALL STREET (GOLDMAN SACHS) HAS SCREWED THE WORLD WHEN IT COMES TO COMMODITIES, THERE WOULD BE RIOTS IN THE STREETS OF NY...THEY ALONG WITH THE ENERGY INDUSTRY (CLOSING OR REDUCING OUTPUT OF REFINERIES) HAVE SEALED THE DEAL...THE TRADERS HAVE COMPLETE CONTROL OF ENERGY PRICING...THATS WHY GAS AT THE PUMP IS RISING, THEY KNOW THE REPUKES HAVE CONTROL OF THE HOUSE IN JANUARY SO THEY CAN SCREW AT WILL. IT WILL END ONE DAY IN A VERY NASTY WAY.

November 10 2010 at 7:20 AM Report abuse -1 rate up rate down Reply
1 reply to k4jlp's comment
Mickylitz

k4jlp 7:20 AM Nov 10, 2010 • IF EVERYONE KNEW HOW MUCH WALL STREET (GOLDMAN SACHS) HAS SCREWED THE WORLD WHEN IT COMES TO COMMODITIES, THERE WOULD BE RIOTS IN THE STREETS OF NY...THEY ALONG WITH THE ENERGY INDUSTRY (CLOSING OR REDUCING OUTPUT OF REFINERIES) HAVE SEALED THE DEAL...THE TRADERS HAVE COMPLETE CONTROL OF ENERGY PRICING...THATS WHY GAS AT THE PUMP IS RISING, THEY KNOW THE REPUKES HAVE CONTROL OF THE HOUSE IN JANUARY SO THEY CAN SCREW AT WILL. IT WILL END ONE DAY IN A VERY NASTY WAY. ********************************************* k4jlp,,,Funny you would mention rising cost,,,,Humm !! people got to eat and if you bother to cook at home you will find that many food items have doubled under the democrat's control and they're supposedly for the poor,, How much more bull can they make you libs swallow ????

November 10 2010 at 7:56 AM Report abuse rate up rate down Reply
Mary Ann

jesse ventura, is on to you boiler room get rich while the rest of the world suffer's.I was looking at these chump's with there 5,000 dollar suit's on and saying to my self yea get dressed up nice and pretty saten loves a good soul your times near so sell,sell sell, your sole's good luck chuck..HA..HA

November 10 2010 at 4:03 AM Report abuse rate up rate down Reply
hinehn1

bernie madoff and stanford got caught theses other gangsters didnt ken lay lay died so he got of the hook but theses other gangsters got away with highway robbry

November 09 2010 at 9:57 PM Report abuse +2 rate up rate down Reply
bmiller616

Unwarranted??? When this government can stop outsourcing of jobs, stop bailing out banks and AIG, but does NOT bailout the everyday working person, is when you can tell me that foreclosures are not warranted.. When you can tell me that lenders did NOT know they were selling bogus loans, then tell me.. When one of our own Senators husband makes millions off the foreclosure process then you tell me. When Barney Frank is brought before the congress for turning his fat head away from what every person knew would happen, then tell me...You have gone way too far and way out of control...

November 09 2010 at 9:01 PM Report abuse +8 rate up rate down Reply
3 replies to bmiller616's comment
derekghiotti

SEE THAT HES AS PLAYS SMART OVER THAT HOW HE IS DOING AND NOW SEE EVERYONE IS GETTING SO ANGRY AT GOLDMAN HOW OUTSMART HE IS .. HE SHOUD STOP DOING PLAYING WITH THESE PEOPLE OR ANYTHING LIKE THAT OR THEY WILL COME AFTER GOLDMAN ......

November 09 2010 at 8:10 PM Report abuse rate up rate down Reply
1 reply to derekghiotti's comment
mpf111

Goldman runs the show, the whole show.

November 09 2010 at 7:37 PM Report abuse +1 rate up rate down Reply
miniworld7

Aren't these the same crooks who claimed their exposure to AIG was not material right before taxpayers were forced to cover GS $14 billion loss associated with the collapse of AIG credit default swaps? Goldman Sachs has no shame.

November 09 2010 at 7:01 PM Report abuse +2 rate up rate down Reply
barattamar

it all boils down to GREED land of the free home of the brave and pay me cause im greedy GOD BLESS AMERICA

November 09 2010 at 5:55 PM Report abuse +1 rate up rate down Reply