The New York Attorney General is investigating the proposed $8.5 billion Bank of America settlement with Bank of New York Mellon Corp. over residential MBS trusts, seeking client information from more than 20 companies including Goldman Sachs, BlackRock, and others.
The New York attorney general's office recently sent letters out to various investors regarding their participation in the proposed deal.
The office asks the investment managers to identify clients affiliated with New York state government entities, public authorities or non-for-profit or charitable corporations that invested in the 530 residential mortgage-securitization trusts established from 2004 to 2008, according to copies of the letters obtained by Bloomberg News.
Dated July 7, the letters also request the total par amount and current market value of all securities issued by the trusts covered in the settlement agreement for each client that meets the criteria. The information was requested in connection with an ongoing investigation by the office "into certain matters related to securitization of residential mortgages," according to the letters.
Lauren Passalacqua, a spokeswoman for New York AG Eric Schneiderman, and Bobbie Collins, a spokeswoman for BlackRock, declined to comment. Goldman Sachs spokesman Michael DuVally also declined comment.
