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N.Y. Regulator Said to Subpoena Firms on Housing-Contract Deals

  • Department of Financial Services is probing contracts for deed
  • Apollo-tied firms, Battery Point, New York Mortgage contacted

New York’s financial regulator has issued subpoenas to two companies with ties to Apollo Global Management LLC as part of an inquiry into housing transactions for low-income buyers.

The New York State Department of Financial Services subpoenaed ARM Manager LLC, an indirect Apollo subsidiary, and the real estate investment trust it manages, Apollo Residential Mortgage Inc., on Friday, asking for information on deals made through a seller-financing program, according to a person familiar with the matter. The regulator also sent subpoenas to Battery Point Financial and New York Mortgage Trust Inc., said the person, who asked not to be identified because the requests for information aren’t public.