Nev. AG, Morgan Stanley Reach Deal In Subprime Probe

Law360, New York (September 27, 2011, 8:26 PM EDT) -- Nevada's attorney general announced Tuesday that she and a Morgan Stanley unit had reached a deal valued between $21 million and $40 million to end an investigation into the company's role in securitizing about 3,000 subprime mortgages.

Nevada Attorney General Catherine Cortez Masto said she filed an assurance of discontinuance with Morgan Stanley Mortgage Capital Holdings LLC that requires the company to adhere to certain practices when securitizing Nevada mortgages, to refund and adjust interest rates for certain Nevada borrowers, and to pay $7.2 million to...
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