On September 27, 2011, Nevada Attorney General Catherine Cortez Masto announced that her office resolved an investigation into Morgan Stanley Mortgage Capital Holdings' ("Morgan Stanley") purchase and securitization of subprime mortgages in the state. The investigation examined whether lenders misrepresented risks to borrowers who took out subprime loans and whether Morgan Stanley was aware of those misrepresentations. Ms. Cortez Masto filed an Assurance of Discontinuance ("Assurance") of the investigation, which requires that Morgan Stanley review all Nevada subprime mortgage loans and confirm that they are in compliance with the Nevada Deceptive Trade Practices Act before financing, purchasing, or securitizing such loans going forward. Morgan Stanley must also adjust interest rates and refund certain interest payments to eligible borrowers and pay $7.2 million to be used to prevent foreclosures and mortgage fraud in Nevada. The Office of the Attorney General estimates the value of the relief as between $21 million and $40 million. Press Release.