GMAC Mortgage on Monday denied reports that it was instituting a mortgage foreclosure moratorium in 23 states. "The speculation likely emanates from a direction previously given by GMAC Mortgage to certain of its outsource vendors to allow time to address a potential issue that was raised in a number of existing foreclosures challenging the internal procedure we used for executing one or more judicially required forms," GMAC said in a statement. GMAC said that "all new residential foreclosures are continuing in the ordinary course of business with no interruption in our usual practice." http://www.marketwatch.com/story/gmac-denies-reports-of-foreclosure-moratorium-2010-09-20