The government’s consumer finance watchdog is investigating mortgage insurance deals between banks and the insurers American International Group Inc., MGIC Investment Corp. and Genworth Financial Inc.
The companies said in public filings this week that they had received subpoenas from the Consumer Financial Protection Bureau for information about captive mortgage reinsurance deals. Borrowers have alleged in civil lawsuits that mortgage insurers paid millions in kickbacks to banks. The companies did not respond for comment.
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