FHFA Announces $1.9 Billion Settlement With Deutsche Bank


FHFA Announces $1.9 Billion Settlement With Deutsche Bank

FHFA Announces $1.9 Billion Settlement With Deutsche Bank

For Immediate Release Contact:

Corinne Russell (202) 649-3032
Stefanie Johnson (202) 649-3030

December 20, 2013

FHFA Announces $1.9 Billion Settlement
With Deutsche Bank


Washington, DC — The Federal Housing Finance Agency (FHFA), as conservator of
Fannie Mae and Freddie Mac, today announced it has reached a settlement with
Deutsche Bank AG, related companies and specifically named individuals for $1.925
billion to resolve claims in FHFA v. Deutsche Bank AG, et al., as well as certain other
matters. The settlement addresses claims alleging violations of federal and state
securities laws in connection with private-label mortgage-backed securities (PLS)
purchased by Fannie Mae and Freddie Mac between 2005 and 2007.

Under the terms of the agreement, Deutsche Bank will pay approximately $1.63 billion
to Freddie Mac and $300 million to Fannie Mae. As part of the settlement, FHFA,
Fannie Mae and Freddie Mac will release certain claims brought against Deutsche Bank
related to securities sold to Fannie Mae and Freddie Mac between 2005 and 2007.

The settlement agreement does not release Deutsche Bank from any claims relating to
LIBOR manipulation and does not include claims made against Deutsche Bank in two
other PLS lawsuits presently the subject of ongoing litigation: FHFA v. SC Americas,
Inc., et. al., and FHFA v. Countrywide Financial Corp., et. al. The other parties to
those lawsuits were not part of the negotiations with Deutsche Bank.

This is the sixth settlement that FHFA has attained pursuant to the 18 PLS lawsuits
filed in 2011. FHFA remains committed to satisfactory resolution of the remaining

(Settlement Agreement follows; confidential materials omitted)

Securitization Name CUSIP Action

ACE 2005-AG1 004427BV1 Deutsche Bank
ACE 2005-ASAP1 004421SY0 Deutsche Bank
ACE 2005-HE6 004421SG9 Deutsche Bank
ACE 2005-HE7 004421TV5 Deutsche Bank
ACE 2006-ASAP1 004421VS9 Deutsche Bank
ACE 2006-ASAP2 004421XB4 Deutsche Bank
ACE 2006-ASAP3 00442VAA5 Deutsche Bank
ACE 2006-ASAP4 00441UAA8 Deutsche Bank
ACE 2006-ASAP5 004422AA9 Deutsche Bank
ACE 2006-ASAP5 004422AB7 Deutsche Bank
ACE 2006-ASAP6 00443KAA8 Deutsche Bank
ACE 2006-ASAP6 00443KAB6 Deutsche Bank
ACE 2006-CW1 00441QAA7 Deutsche Bank
ACE 2006-FM1 00441VAA6 Deutsche Bank
ACE 2006-FM2 00442CAA7 Deutsche Bank
ACE 2006-HE1 004421WJ8 Deutsche Bank
ACE 2006-HE1 004421WK5 Deutsche Bank
ACE 2006-HE1 004421WL3 Deutsche Bank
ACE 2006-HE2 004421YR8 Deutsche Bank
ACE 2006-HE3 00441TAA1 Deutsche Bank
ACE 2006-HE4 00442BAA9 Deutsche Bank
ACE 2006-NC1 004421UP6 Deutsche Bank
ACE 2006-NC2 00441XAA2 Deutsche Bank
ACE 2006-NC3 00442EAC9 Deutsche Bank
ACE 2006-NC3 00442EAD7 Deutsche Bank
ACE 2006-OP1 00442PAA8 Deutsche Bank
ACE 2006-OP1 00442PAB6 Deutsche Bank
ACE 2006-OP2 00441YAA0 Deutsche Bank
ACE 2007-ASAP1 00442JAA2 Deutsche Bank
ACE 2007-ASAP2 00442UAA7 Deutsche Bank
ACE 2007-ASL1 00443MAA4 Deutsche Bank
ACE 2007-HE1 00443LAA6 Deutsche Bank
ACE 2007-HE2 00443PAA7 Deutsche Bank
ACE 2007-HE3 00442GAA8 Deutsche Bank
ACE 2007-HE4 00442LAA7 Deutsche Bank
ACE 2007-HE5 000797AA8 Deutsche Bank
ACE 2007-SL1 00442FAA0 Deutsche Bank
ACE 2007-WM1 004424AA5 Deutsche Bank
ACE 2007-WM2 00442KAA9 Deutsche Bank

Securitization Name CUSIP Action

DBALT 2007-OA4 25151XAC5 Deutsche Bank
DBALT 2007-OA4 25151XAE1 Deutsche Bank
INDX 2005-AR31 45660LW39 Deutsche Bank
INDX 2006-AR9 45661EGE8 Deutsche Bank
MHL 2007-1 61915YAA9 Deutsche Bank
NCHET 2006-2 64360YAP0 Deutsche Bank
NHEL 2007-1 669971AA1 Deutsche Bank
RAST 2005-A15 45660L4E6 Deutsche Bank
RAST 2005-A15 45660L4F3 Deutsche Bank

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4 Responses to “FHFA Announces $1.9 Billion Settlement With Deutsche Bank”

  1. Charles Reed says:

    They got to be rescinding all these pools because there is a problem with proving ownership. There is no way that this much bad underwriting was taking place and no way the procedures were not in place to detect this much fowl play.

    Where were the regulators in any of this malfeasance? However we got the FHFA recovering all this money but what are homeowner getting from any of this?

    So if the bigger Fannie & Freddie were getting screwed, why has nothing on Ginnie Mae hit the fan yet?

  2. http://livinglies.wordpress.com/2013/12/11/new-bank-strategy-there-was-no-securitization-irs-amnesty-for-remics/ When the banks failed to file the notes into the securities pools they Violated the Securities Exchange Act VOIDING all the notes. When MERS took possession of the deeds of trust, MERS violated the Securities Exchange Act VOIDING the notes. Read the Act.

  3. Charles Reed says:

    Shelly what they do over at MERS is a little bit trickier than taking position of the Note which MERS is a paperless system that actually does not have any paid employees.

    What they do in the case of Ginnie Mae, is that on the request of the of Ginnie using Transfer Beneficial Rights-Option 1, which the lender/issuer is contacted by Ginnie through it GinnieNET system. The action is suppose to act like title recording agency but has no actual authorizing from States to record liens, but there are no lien because there is transfer of monies when involving Ginnie Mae!

    Ginnie is trapped in this hide the pea under the shell. This is a RICO operation as the Kingpin (Ginnie) directs what the underling are to do in hiding the true ownership. Ginnie puts out conflicting statements are to who is the owner and further attempts to confuse by printing that lenders/issuers are repurchasing as if there were an initial purchase form them by Ginnie.

    Ginnie uses it government status to imply that it has this superseding authority over state government, which the county land recorders don’t question actual who is the holder of the debt. It slick and more con than sophisticated, as the con count of the stupidity of the local land recording personnel, and a flaw at each office in not having a copy of the Notes and having them updated with each transfer of ownership!

  4. Bob G. says:


    You may have some useful information, but you need to present it in an intelligible, coherent fashion. I can never figure out what you’re trying to say, either here or on LL.

    Have somebody write this stuff up coherently for you so that we mere mortals can understand what it is that you are trying to say. Otherwise, you are just wasting electrons as well as your and your readers’ time.


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