WASHINGTON – Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of anThe Federal Reserve is proposing to exempt some investors from a requirement that consumers receive notice within 30 days after their home loan is sold or transferred to a new mortgage company.
The requirement means investors who buy mortgages now have to give consumers written notice that they are collecting payments.
Congress passed the law amid concerns that many consumers do not know who owns their home loan.
Under the Fed’s proposed interpretation, the disclosure requirement will apply only if an investor acquires legal title to loan. That excludes those who only acquire a partial interest.
Sony may not fill some e-reader orders
Sony Corp. says some customers who pre-order its newest e-reader may not get the gadget in time for the holidays.
The company said last week it was trying to ship the $399 Reader Daily Edition for the holidays. But because interest has exceeded expectations, the company can’t be sure that everyone who buys one will get it by Christmas.
Sony began pre-selling the product Wednesday and the Web site says that these orders will ship Dec. 18 through Jan. 8.
