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The SEC Issued Subpoenas Seeking Answers in Foreclosure Fraud Cases
Mortgage News > The SEC Issued Subpoenas Seeking Answers in Foreclosure Fraud Cases
The Securities and Exchange Commission has decided to dig deeper into its investigation regarding fraudulent foreclosures among some of the nation’s largest lenders. The SEC issued subpoenas to such lenders as Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co., Goldman Sachs Group Inc. and Wells Fargo & Co.
The target interest of the issued subpoenas is that of the primary stage of the mortgage securitization process. More specifically MSNBC.com reported that the SEC is looking into whether or not the loans in question were properly transferred to the trusts that issued the securities.