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Morgan Stanley employees faced pressure on mortgages for wealthy clients
Morgan Stanley has faced internal scrutiny over mortgage approvals for wealthy clients, with mortgage employees reporting backlash after questioning or rejecting certain loans, according to the WSJ Markets.
The outlet reports that some employees were pressured when they challenged underwriting decisions, raising questions about how the bank handled loan review for high-end borrowers.
In response to the reporting, Morgan Stanley said it had not compromised its underwriting standards.
The WSJ Markets story focuses on the internal pressures around mortgage underwriting decisions and the bank’s defense of its lending standards.
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