Big banks join Fannie, Freddie in halting foreclosures over holidays

12/7/2012 | AmericanBanker.com (free registration)

Wells Fargo, U.S. Bancorp, PNC Financial Services Group, Bank of America, SunTrust and Citigroup all say they will enact a moratorium on evictions from properties in foreclosure until after the first of the year, just as Fannie Mae and Freddie Mac say they are doing. "We hope this suspension provides families who are experiencing financial hardship some stability over the holiday season," said Saiyid Naqvi, CEO of PNC Mortgage.

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