Morgan Stanley Faces Probe on Military Members’ Mortgages
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Morgan Stanley, the sixth-biggest U.S. bank by assets, faces a probe tied to mortgages for members of the U.S. military.
Morgan Stanley has received subpoenas and requests for information on matters that include “the company’s compliance with the Service Members Civil Relief Act,” according to the New York-based firm’s annual report today to securities regulators. The subpoenas and requests include those relating to the purchase, origination and servicing of residential mortgages, according to the filing.