New York Attorney General Eric Schneiderman is investigating Bank of America Corp.’s proposed $8.5 billion settlement over mortgage-securitization trusts, seeking client information from more than 20 companies including Goldman Sachs Group Inc., BlackRock Inc. and TCW Group Inc.
The New York attorney general’s office sent letters dated July 7 to the companies regarding their participation in Bank of America’s proposed deal. Schneiderman is asking for the information by July 14.
The information was requested in connection with an investigation by the office “into certain matters related to securitization of residential mortgages,” according to the letters.
Investment managers were asked to identify clients affiliated with New York state government entities or public authorities or nonprofit or charitable corporations that invested in the 530 residential mortgage-securitization trusts established from 2004 to 2008, according to copies of the letters obtained by Bloomberg News. The letters also request the total par amount and current market value of all securities issued by the trusts covered in the settlement agreement for each client that meets the criteria.
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