(866) 519-9597

Deutsche Bank to Face US Lawsuit for $3.1 billion

by | Feb 4, 2016

Bank to answer for allegations of toxic residential mortgage backed securities

By Jeff Sorg, OnlineEd Blog

(February 4, 2016) -A federal judge ruled on yesterday that Deutsche Bank must face a US lawsuit seeking to hold it liable for causing $3.1 billion  of investor losses by failing to properly monitor 10 trusts backed by toxic residential mortgages.

“Plaintiff’s allegations of high default rates, large economic losses, and widespread investigation into RMBS securitization allow the court to draw the reasonable inference that defendant had actual knowledge” of defective loans, the judge wrote.

The case is Royal Park Investments SA/NV v. Deutsche Bank National Trust Co, US District Court, Southern District of New York, No. 14-04394.

[Source: Reuters]

###

For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.

 All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

 

 

 

The case is Royal Park Investments SA/NV v. Deutsche Bank National Trust Co, US District Court, Southern District of New York, No. 14-04394.

Read more: http://www.afr.com/business/banking-and-finance/financial-services/deutsche-bank-in-us31b-us-lawsuit-over-toxic-mortgage-losses-in-the-gfc-20160204-gmldtw#ixzz3zDrbf02w
Follow us: @FinancialReview on Twitter | financialreview on Facebook

Newsletter Signup

Get regular updates about OnlineEd products and industry news.