Clayton Holdings Inc., a mortgage loan analysis firm has entered into an agreement with NY's AG in which it will provide information on how Wall Street firms had disregarded their warnings on quality of mortgage loans being sold to investors.
Clayton is country's biggest due-diligence firm which is hired by investment houses for ensuring that loan blocks are as per seller's own standards.
The firm has entered into cooperation agreement with AG's Office & will give details of what it knows about how firms had sold MIs (Mortgage Investments) even after they warned that the loans were not upto required quality standards.
In a statement released by the firm they have stated that they have also been asked regarding mortgage loans which had exceptions to seler/lender guidelines & were purchased by mortgage backed security issuers.
Monday, January 28, 2008
Mortgage analysis firm enters cooperation agreement with AG's Office
