September 29, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

SEC probes Change Company over mortgage-backed securities sold to Wall Street

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© Reuters. FILE PHOTO: The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg

(Reuters) – The US Securities and Exchange Commission (SEC) is probing The Change Company, a California lender that pledges to promote homeownership in underserved communities, over its mortgage-backed securities, Bloomberg News reported on Monday.

The regulator is also looking into some of the actions of its chief executive officer, Steven Sugarman, the report said, citing people with direct knowledge of the matter.

“Neither Change nor its leadership is aware of any SEC investigation,” the report said, citing the company.

The SEC and The Change Company did not immediately respond to Reuters requests for comment.

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