Deerfield Capital Corp. (DFR) received a “Wells notice” from the Securities and Exchange Commission (SEC) stating the SEC staff will recommend that the SEC bring an enforcement proceeding against DFR for possible violations. … The company had said that the SEC has been investigating certain mortgage securities transactions effected by Deerfield Capital Management (DCM), now DFR’s indirect wholly-owned subsidiary, for DFR in 2005 and 2006, involving REMICs and re-REMICs, and the accounting for those transactions.
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