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Home » Store » News » EMC Among Targets in FTC Lending Probe, Bear Says

EMC Among Targets in FTC Lending Probe, Bear Says

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A government probe of alleged pricing disparities in the subprime market has spilled into the secondary market, with investment bank Bear Stearns receiving a formal request for more information about the loans acquired and serviced by its subsidiary EMC Mortgage. The FTC probe was disclosed by the investment bank in an MBS prospectus filed Dec. 30 with the Securities and Exchange Commission. The investment bank said that it had received a “civil investigative demand…
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