State AGs Seek Information from Trustees on Documentation of Mortgage Securitization Deals
June 17, 2011
With most of the attention focused on loan originators, securitizers and mortgage servicers in the recent foreclosure mess, trustees have managed to escape regulatory scrutiny. But not for long. The relative safety enjoyed so far by trustees ended this week as reports surfaced of a joint in-quiry by the New York and Delaware attorneys general into whether documents in mortgage securitiza-tion transactions for which the Bank of New York Mellon and Deutsche Bank were named trustees are proper and valid. The offices of NY Attorney General Eric Schneiderman and DE Attorney General Joseph Biden III...