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U.S. Consumer Bureau Probes AIG Over Mortgage Insurance Business

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Aug. 3 (Bloomberg) -- The Consumer Financial Protection Bureau is investigating American International Group Inc. over issues related to mortgage insurance, the company said in an Aug. 2 regulatory filing.

AIG said the CFPB issued a civil investigative demand, an early step in a probe, in June. On July 24, the bureau suspended the deadlines for complying with the demand “pending discussions that could resolve the investigation,” AIG said.

State and federal regulators have in recent years examined the propriety of payments between lenders and insurers for policies covering mortgages, and whether they comply with the Real Estate Settlement Procedures Act.

To contact the reporter on this story: Carter Dougherty in Washington at cdougherty6@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net

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