SEC Subpoenas Big Banks' Mortgage Securitization Documents

http://www.dsnews.com/articles/sec-subpoenas-big-banks-mortgage-securitization-documents-2010-12-17

The Securities and Exchange Commission (SEC) is reportedly investigating lenders' procedures for packaging home mortgages into securities bonds for sale to investors. Reuters, citing two sources familiar with the probe, says the SEC sent subpoenas last week to Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Wells Fargo. The subpoenas focus on the earliest stage of the mortgage securitization process, in particular, the role of master servicers.