Deutsche Bank fails to end four U.S. lawsuits over soured mortgages

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Deutsche Bank fails to end four U.S. lawsuits over soured mortgages

Deutsche Bank fails to end four U.S. lawsuits over soured mortgages

How in the world do these cartels think they can get these lawsuits dismissed! Ridiculous!


REUTERS-

Deutsche Bank AG has failed to win the dismissal of four U.S. lawsuits seeking to force it to pay damages or buy back troubled home loans it had packaged into residential mortgage-backed securities prior to the 2008 financial crisis.

The cases concern securitization trusts backed by roughly $2.9 billion of home loans, and are among six lawsuits in New York accusing the German bank’s DB Structured Products Inc unit of reneging on its contractual duties to address problem loans, court papers show.

In a 35-page decision, U.S. District Judge Alison Nathan in Manhattan on Thursday said HSBC USA NA, acting as trustee for the four trusts, was entitled to pursue damages claims, and to determine the extent to which Deutsche Bank knew of problems in the underlying loans at the time of the securitizations.

[REUTERS]

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2 Responses to “Deutsche Bank fails to end four U.S. lawsuits over soured mortgages”

  1. Would you think that Duetsche bank would have a clue the WAMU loans were not being posted in the trust account in the PSA’s per each loan? and wonder why Deutsche Bank expected WAMU, the FDIC and Chase to transfer all of them at once when the FDIC took WAMU over in receivership? Deutsche banks law suit claims WAMU, FDIC and Chase did not transfer the loans timely causing them to be faulty. Each trust has a separate date to be posted within 90days. At the time of the receivership and Chase purchased only servicing rights the note on my loan was well past the PSA contract law allowing it to be posted. My loan was in June of 2006, the receivership was in 2009. Duetsche Bank or someone from Chase claiming to have the right to assign my note to the trust for Deutsche Bank did not do the assignment until January 03, 2013.
    Don’t tell me all the parties did not know this was going on and only transferred to the trust when the loan was claimed to be in default by fraud transfers or to a fraud beneficiary once the loans were allegedly in default. Many of them lured into false defaults by the servicers using the HAMP and modification lures.

  2. Steve g says:

    Fraud is fraud. These banks committed. The representatives we elected into office new it. We are not them, they are above us and know what is best for us. Therefore, we lose. Just like lambs to the slaughter. Molon Labe!

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