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SEC settles with State Street on subprime mortgage charges

0 Comments Published February 5th, 2010 in News.

(Updated with details about the role state regulators played in the investigation, info on settlement and a comment from the state’s attorney general) State Street Corp. STT on Thursday agreed to pay more than 0 million to settle civil charges by the U.S. Securities and Exchange Commission alleging the bank misled investors about its exposure to subprime mortgages.

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« David Weidner’s Writing on the Wall: What Volcker should tell Wall Street
MarketWatch First Take: Thain and CIT both seek redemption »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






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