New York Fed Investigates Goldman Loan Division

Source: New York Times

New York Fed Investigates Goldman Loan Division
BY MICHAEL J. DE LA MERCED AND BEN PROTESS

The Federal Reserve Bank of New York has begun an investigation into the mortgage-servicing arm of Goldman Sachs, looking at whether it systematically rejected borrowers’ efforts to lower their loan payments through government programs.

The inquiry by the New York Fed arose from a letter sent by an anonymous employee, who accused the Goldman unit, Litton Loan, of denying loans without properly reviewing applications.

The letter was brought to the Fed’s attention by The Financial Times after it received the tip.

“We are in possession of the letter and are conducting an inquiry,” a spokesman for the New York Fed said in a statement.

Read more: http://dealbook.nytimes.com/2011/05/25/new-york-fed-investigates-goldman-loan-division/?ref=business

Now we have a story :kick:

nothing will come of this.

:boring: