N.Y. Mortgage Probe Said to Get Extension to Sue 12 Firms

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N.Y. Mortgage Probe Said to Get Extension to Sue 12 Firms

N.Y. Mortgage Probe Said to Get Extension to Sue 12 Firms

Bloomberg-

New York Attorney General Eric Schneiderman is looking into the mortgage securities practices of at least a dozen financial institutions that have agreed to suspend a deadline for him to bring fraud claims, according to a person familiar with the matter.

Schneiderman, who sued JPMorgan Chase & Co. (JPM) this week for defrauding mortgage bond investors, has so-called tolling agreements with 12 institutions that preserve claims that could expire during a state investigation, according to the person, who declined to be named because the matter isn’t public.

[BLOOMBERG]

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