There should be a thorough investigation of problems with the foreclosure process but no moratorium, White House spokesman Robert Gibbs said today.
He said the administration fears "unintended consequences to a broader moratorium,'' such as a further decline in the housing market.
Some mortgage servicers have suspended foreclosure proceedings after concerns were raised about the verification process and the validity of some documentation.
Several state attorneys general have said they plan to launch an investigation of the mortgage servicing industry.
