Friday, April 27, 2007

Cuomo Subpoenaing New York Mortgage Companies

Apparently the New York Attorney General is interested in learning more about the industry and how mortgage brokers get paid. When he was with HUD he wanted more strict disclosures about lender payments to mortgage brokers, called Yield Spread Premiums (YSP). I'm unable to find which companies have received subpoenas, but I'm very interested to know. I'd to see if there's a general target like subprime loans, or emerging market loans.

No comments: