Feb 26 General Electric Co said the U.S. Department of Justice in January issued subpoenas to WMC Mortgage Corp and GE Capital seeking documents as part of an industry-wide investigation of subprime mortgages.
The conglomerate said it learned in December that the department was probing purchase or sale of residential mortgage loans between Jan. 1, 2005 and Dec. 31, 2007.
"We will cooperate with the Justice Department's investigation, which is at an early stage," GE said in a filing on Friday. (1.usa.gov/1OBr12o)
WMC, which is a now defunct subprime lending unit, was sold in 2007, while GE Capital houses the company's finance business.
GE also said the civil division of justice department was investigating potential violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) by WMC and its affiliates. (Reporting by Arunima Banerjee in Bengaluru; Editing by Sriraj Kalluvila)