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Items Tagged with 'Deutsche Bank'

ARTICLES

It's official: Deutsche Bank reaches $7.2 billion RMBS settlement

Largest RMBS settlement ever
Late last year, Deutsche Bank announced that it reached a $7.2 billion settlement with the Department of Justice in connection with the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. Although the bank made the announcement in late December, the settlement was not official, but it is now.
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Deutsche Bank considering loans to private equity as part of $4.1 billion in consumer relief

Reportedly discussing loans to Lone Star Funds, others
Recently, Deutsche Bank announced that it reached a settlement with the Department of Justice over the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. As part of the settlement, Deutsche Bank will be required to provide $4.1 billion in consumer relief. But a new report suggests that Deutsche Bank is considering an unorthodox method of providing that $4.1 billion in consumer relief – lending to private equity firms.
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What happened to all that mortgage settlement money?

New York Times' Dealbook provides look at 8 massive mortgage settlements
While the headlines don’t show up quite as often as they once did, it still seems like that every few weeks another bank is settling with the federal government (or other parties) over the mortgage misdeeds of the past. Each of those settlements checks in the multi-billion dollar range, but what happens to the settlement money after the banks pay up?
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Deutsche Bank massive RMBS penalty gets cut in half

Justice reduces $14B fine substantially
Under the terms of the settlement agreement, Deutsche Bank agreed to pay a civil monetary penalty of $3.1 billion and to provide $4.1 billion in relief to American homeowners. Deutsche Bank initially fought the larger charge of $14 billion; the latest figure puts the penalty in the $7 billion range.
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Monday Morning Cup of Coffee: Deutsche Bank cutting back on mortgage business?

Plus, a new name emerges to serve as Trump's HUD secretary
Is Deutsche Bank about to cut back on its mortgage business? It appears so. Plus, a new name emerges to run HUD in President-elect Donald Trump's administration. And why is a massive Silicon Valley venture capital firm investing in a real estate loan marketplace? All that, and more, in your Monday Morning Cup of Coffee.
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Monday Morning Cup of Coffee: Illinois looks to end ties with Wells Fargo; TRID anniversary

What's going on with Deutsche Bank?
One year ago today marked a pivotal change in the industry: the CFPB officially held lenders, vendors and everyone in the industry accountable for the Know Before You Owe rule. Meanwhile, trouble is far from over for Wells Fargo as the city of Chicago and the state of Illinois add their names to the list of places that are still looking for retribution.
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DOJ mortgage settlement with Deutsche Bank to cost $14B?

Settlement talks still in progress
While an official settlement is not yet public, it’s rumored that the U.S. Justice Department proposed that Deutsche Bank AG pay $14 billion to settle a case that dates back to the financial crisis. An article in The Wall Street Journal cites sources close to the matter for what outcome the industry could possibly expect.
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