New York Attorney General Andrew Cuomo said Thursday that his office is investigating subprime lenders whose customers have fallen behind on their payments at the highest rate in four years, according to a published report.The Washington Post reported that Mr. Cuomo -- a former housing secretary in the Clinton administration -- revealed the investigation during a news conference but did not offer any details. According to the Quarterly Data Report, subprime foreclosures totaled 3% at the end of December. The overall delinquency rate stood at 14.35%. A year ago the foreclosure rate was 2.13%, but delinquencies totaled 15.89%, the QDR found.
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