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.
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Several state attorneys general have said they plan to launch an investigation of the mortgage servicing industry.
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