Deutsche Bank Beats Homeowner Suit Over Securitized Loans

Law360, New York (April 1, 2013, 2:03 PM EDT) -- A New York federal judge Thursday ended a proposed class action from homeowners trying to block trusts for which Deutsche Bank AG is a trustee from collecting payments on mortgages they had securitized, finding the borrowers lack standing to challenge transfer of loans from their original lender.

U.S. District Judge Laura Taylor Swain, reversing her own decision from last year, said the case was doomed because the borrowers were not parties to so-called pooling and servicing agreements under which the loans were securitized. As a result,...
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