Obama Creates Unit to Probe Mortgage Misconduct by Banks – Businessweek
Jan. 25 (Bloomberg) — President Barack Obama’s mortgage investigation unit will probe bank conduct that created the housing bubble and bust, including the packaging of loans into securities, the New York Attorney General said. The president …
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NEW YORK -(Dow Jones)- New York Attorney General Andrew Cuomo has subpoenaed eight banks in a probe into … s (BAC) Merrill Lynch & Co., Morgan Stanley Inc. (MS), Citigroup Inc. (C), Deutsche Bank AG (DB, DBK.XE), Goldman Sachs Group Inc. ( Go to Source…
For the first time since the crisis, federal investigators will be joined by state law enforcement officials as part of a working group that, New York Attorney General Eric Schneiderman said, would launch the “broadest, deepest investigation … Go to Source…
Bank of America Corp. (BAC) was given a subpoena by California’s attorney general for information related to the packaging and sale of mortgage-backed securities, a person familiar with the matter said. The subpoena, delivered Oct. 18 … Go to Source…
The Arizona Attorney General’s office will create a six-person mortgage fraud investigation and prosecution unit using a $1.7 million federal grant. Attorney General Terry Goddard says the unit will allow … Go to Source…
(Adds planned Senate Banking Committee hearing in sixth, seventh paragraphs) Oct. 9 (Bloomberg) — Attorneys general in about 40 states may announce by next week a joint investigation into potentially faulty foreclosures at the largest banks and mortgage … Go to Source…
Dec. 24 (Bloomberg) — Banco Santander SA said its Mexican unit agreed to pay 2 billion pesos ($162 million) for the mortgage operations of General Electric Co. to become that country’s second-largest home lender. Santander will gain a portfolio of about … Go to Source…
Oct. 13 (Bloomberg) — A year after the start of a nationwide investigation of foreclosure practices, state and federal negotiators haven’t settled with banks and face infighting that might leave some states outside any agreement. A year ago … Go to Source…
As many as 40 state attorneys general in the United States are expected to announce an investigation into the mortgage servicing industry on Wednesday, the Wall Street Journal said. The investigation may help pressure financial institutions to rewrite large nu Go to Source…
Bank of America Corp. says it is splitting its mortgage business into two units, with one dedicated specifically to handle foreclosures and discontinued loan products. The Charlotte, N.C.-based bank says this unit will be responsible for resolving issues … Go to Source…
New York Attorney General Eric Schneiderman and Delaware Attorney General Beau Biden are looking into whether Wall Street firms bothered to pass along the appropriate paperwork when they took individual home loans and repackaged them into securities for sale. New York Times’ Gretchen Morgenson and Housing Finance Expert Josh Rosner discuss the mortgage mess on msnbc. (Dylan Ratigan Show) Go to Sou…
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