• Preparing Effective Responses to Investigations in the Subprime Arena
  • May 17, 2007 | Author: Jason H. P. Kravitt
  • Law Firms: Mayer Brown LLP - Chicago Office; Mayer Brown LLP - New York Office; Mayer Brown LLP - Chicago Office
  • New York Attorney General Andrew Cuomo announced his intention to investigate the practices of subprime lenders at a news conference on March 15. This intention turned to action in the last week when Mr. Cuomo's office sent subpoenas to more than thirty mortgage lenders and servicers that conduct business in New York. The subpoenas are understood to focus on appraisal practices and compensation for mortgage brokers.