SEC Subpoenas Credit Suisse Over Mortgages

Credit Suisse has been subpoenaed by the Securities and Exchange Commission for documents related to securitize home loans.

Credit Suisse has been subpoenaed by the Securities and Exchange Commission (SEC) for documents related to securitize home loans, The Wall Street Journal reports. Bond insurer, MBIA is suing Credit Suisse and several other banks for fraudulently urging it to insure bonds backed home loans that did not conform to state guidelines, adds Reuters. The regulator is seeking information on a $900 million pool of mortgage loans the Swiss lender put together to sell to investors. MBIA has also received a similar subpoena from the SEC as part of the same inquiry.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.