“NEW YORK/CHARLOTTE, North Carolina (Reuters) – The New York attorney general’s office has requested information from three major banks about their mortgage operations, according to a source familiar with the matter.
New York Attorney General Eric Schneiderman has asked Bank of America Corp, Goldman Sachs Group Inc and Morgan Stanley for information on their mortgage securitization practices, the source said.
Schneiderman has also requested meetings with the banks over the next couple of weeks.
Spokesmen for Goldman Sachs and Morgan Stanley declined to comment. Bank of America did not immediately return a call seeking comment.
The probe, which was first reported by The New York Times, is the latest in an expanding series of investigations by state and federal agencies into banks’ mortgage operations, which were at the heart of the worst global financial crisis since the Great Depression.
“It’s not surprising to see everyone wants a piece of the action while they can get it,” said Adrian Cronje, chief investment officer at Atlanta-based Balentine, an investment advisory firm with $800 million in assets.”Comments »