UPDATE 3-SEC probing ResCap for possible mortgage fraud
| Reuters
The U.S. Securities and
Exchange Commission is investigating Ally Financial mortgage
unit Residential Capital for possible misconduct in its loan
origination and underwriting practices.
The SEC disclosed in court documents that it had issued a
formal order of investigation on Feb. 22 to probe possible fraud
in the offer and sale of mortgage-backed securities by ResCap.
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