Reuters-
The government’s investigation of mortgage-related practices at Wells Fargo & Co (WFC.N) includes the making and packaging of home loans by its Wachovia unit, the bank said in a filing Tuesday.
The No. 4 U.S. bank by assets disclosed in February that it may face federal enforcement action related to mortgage-backed securities deals leading to the financial crisis.
[REUTERS]
From the filing
MORTGAGE RELATED REGULATORY INVESTIGATIONS
Government agencies and authorities continue investigations or examinations of certain mortgage related practices of Wells Fargo. The current investigations primarily relate to: (1) whether Wells Fargo complied with applicable laws, regulations and documentation requirements relating to mortgage origination and securitizations, including those at the former Wachovia Corporation; and (2) whether Wells Fargo properly disclosed in offering documents for its residential mortgage-backed securities the facts and risks associated with those securities.
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