“SEC Launches Investigation into California Lender, The Change Company, Over Mortgage-Backed Securities”
– The US Securities and Exchange Commission (SEC) is conducting a probe into The Change Company, a California lender known for its commitment to promoting homeownership in underserved communities.
– The investigation also includes an examination of the actions taken by the company’s CEO, Steven Sugarman.
According to Bloomberg News, the SEC is currently investigating The Change Company regarding its mortgage-backed securities. These securities are financial products that are backed by a pool of mortgages. The SEC is specifically looking into whether the company has violated any regulations in relation to these securities.
The investigation also extends to the actions of The Change Company’s CEO, Steven Sugarman. The regulator is examining some of his activities to determine if they comply with legal requirements.
In response to the news, The Change Company stated that neither the company nor its leadership is aware of any SEC investigation. However, they did not provide any further comments or details on the matter.
As of now, both the SEC and The Change Company have not responded to requests for comment from Reuters.
Source: Reuters.com (www.reuters.com)