Federal Probe of Mortgage Lenders Goes Nowhere

CHICAGO (Reuters) – Federal criminal investigations into failed mortgage lenders IndyMac Bancorp and New Century Financial Corp have stalled, the Wall Street Journal reported on Saturday. A third probe, into Washington Mutual Inc (WaMu), has ended with no charges being filed, the Department of Justice said. Both the IndyMac and Century Financial investigations were essentially …

NY attorney general investigating eight banks

The New York attorney general has begun an investigation into eight banks to determine whether they provided misleading information to agencies that rate mortgage securities, The New York Times reported on Thursday. New York Attorney General Andrew Cuomo’s office issued subpoenas late on Wednesday notifying the banks of his investigation, the Times reported on its …