Morgan Stanley mortgage employees say they faced pressure from the firm’s wealth advisers to approve home loans for affluent clients despite underwriting concerns, according to a report published Tuesday by The Wall Street Journal based on internal documents, emails and a whistleblower complaint.

Current and former employees reportedly said that some advisers pushed for approvals on owner-occupied mortgages that appeared to be for investment properties, and for loans to friends or romantic partners who lacked sufficient income, assets or down payment funds.

The cases reportedly took place in private banking, which serves the bank’s $8 trillion wealth-management franchise by originating mortgages and details ⇒

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