Storms brewing

Litigation

New York state attorney general Andrew Cuomo is making quite a name for himself in the US mortgage industry. In November 2007 he accused Washington Mutual, one of the largest mortgage lenders in the US, of being involved in a scheme to artificially inflate home value appraisals to secure mortgage loans.

Cuomo then subpoenaed government-sponsored mortgage enterprises (GSEs) Freddie Mac and Fannie Mae, demanding data on loans they bought from lenders including Washington Mutual. The subpoenas also

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