The Securities and Exchange Commission is looking into US banks’ mortgages practices, according to people close to the situation, in a sign of mounting regulatory pressure on lenders and home loan servicers.
The SEC declined to comment but the agency is believed to have opened an informal investigation in recent weeks as evidence of alleged mistakes in the foreclosure process at some of the nation’s biggest banks emerged.
Financial Times 16/10/10 page 19, The Times Business 16/10/10 page 7
