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GMAC Halts Most Mortgage Lending In Mass.

This article is more than 11 years old.

The state's fifth-largest mortgage lender, GMAC, is halting most lending in Massachusetts.

The move is in reaction to a lawsuit filed by state Attorney General Martha Coakley Thursday against GMAC and four other lenders over foreclosure practices.

The company says in a statement it no longer considers lending in Massachusetts viable.

Lenders had been negotiating settlements over controversial foreclosure practices with many states, but the attorney general says she filed suit because negotiations had dragged on too long.

This program aired on December 2, 2011. The audio for this program is not available.


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