By Brett Philbin, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- New York Attorney General Eric Schneiderman has requested information from Deutsche Bank AG (DB), Bank of New York Mellon Corp. (BK) and other firms related to their role as trustees in the bundling of mortgage loans in securities, according to a person familiar with the situation.
Schneiderman's office has agreed to share the requested documents with Delaware Attorney General Joseph Biden III, as 80% of the trusts are governed by New York law while the remaining 20% are under Delaware's jurisdiction, this person said. The request was filed to determine if the loans had proper and valid documentation.
The request is part of a wide investigation by Schneiderman's office, and regulators broadly, into the mortgage industry and the bundling and sale of such loans to investors.
Last month, The Wall Street Journal reported the New York Attorney General had requested meetings with executives from several big banks, including Deutsche Bank, Bank of America Corp. (BAC), Goldman Sachs Group Inc. (GS), J.P. Morgan Chase & Co. (JPM), Morgan Stanley (MS) and UBS AG (UBS).
Bond insurers such as MBIA Inc. (MBI) have been subpoenaed in the mortgage probe.
Bank of New York Mellon declined to comment. Deutsche Bank and the Delaware Attorney General's office didn't immediately respond to requests for comment.
News of the probe was reported earlier Monday by the New York Times.
-By Brett Philbin, Dow Jones Newswires; 212-416-2173; brett.philbin@ dowjones.com
(END) Dow Jones Newswires 06-13-111352ET Copyright (c) 2011 Dow Jones & Company, Inc.
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