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Tags: SEC | Probes | Citi | Mortgage

Report: SEC Probes Citi's Role in $1 Billion Mortgage Deal

Thursday, 18 November 2010 12:37 PM

The U.S. Securities and Exchange Commission is investigating Citigroup Inc.'s role in a $1 billion mortgage-backed securities deal in 2007, ProPublica reported Thursday, citing people familiar with the probe.

Citigroup "improperly pushed an independent manager to put specific assets" in a collateralized debt obligation it created in February 2007, ProPublica said, citing the people.

The deal, which was backed by other CDOs that were backed by slices of subprime mortgages, was managed by Credit Suisse Alternative Capital, according to the report.

Calls to Citigroup and Credit Suisse were not immediately returned. Citigroup shares were up 1.4 percent at $4.25 Thursday morning.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
The U.S. Securities and Exchange Commission is investigating Citigroup Inc.'s role in a $1 billion mortgage-backed securities deal in 2007, ProPublica reported Thursday, citing people familiar with the probe. Citigroup improperly pushed an independent manager to put...
SEC,Probes,Citi,Mortgage
101
2010-37-18
Thursday, 18 November 2010 12:37 PM
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