New York Bill Would Put New Due Diligence Requirements On Subprime Underwriters
January 31, 2003
A bill under consideration in the New York Senate would add more headaches for securities issuers and underwriters by creating new due diligence requirements for subprime mortgage loans. The bill, S. 269, is designed to ensure that state agencies don’t do business with predatory lenders – a label that would apply to companies that or do more than five percent of their annual