Exclusive: Housing chief leaves Morgan to launch buy-to-rent fund

(Reuters) - Oliver Chang, head of U.S. housing strategy at Morgan Stanley, who has written more about foreclosed homes as an investment opportunity than any other Wall Street analyst, is leaving his firm to start his own buy-to-rent housing fund. Chang announced his decision on Monday in a resignation letter he submitted to Morgan Stanley obtained by Reuters. ...

SEC says probing JPMorgan's financial reporting

WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission told lawmakers on Tuesday that her agency is probing JPMorgan Chase and Co's financial reporting and emphasized that big banks are required to publicly disclose changes to the models they use to measure risk. SEC Chairman Mary Schapiro assured a Senate Banking Committee that the SEC is investigating JPMorgan's revelation earlier this month that it suffered at least $2 billion in losses on complex trades that started as hedges but morphed into a risky bet. ...