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Deutsche Bank, Morgan Stanley Settle RMBS Suit

Law360 (April 4, 2018, 8:46 PM EDT) -- Deutsche Bank National Trust Co. on Wednesday resolved its nearly 4-year-old suit accusing a Morgan Stanley unit of stuffing shoddy loans into a $735 million residential mortgage-backed securitization trust, having received settlement approval from a majority of the trust's investors.

A minority of investors in the Morgan Stanley Structured Trust I 2007-1 had opposed the $37.5 million proposed settlement, telling a federal judge on March 16 that the “paltry” amount undermined the strength of Deutsche’s claims that trust investors suffered more than $306 million in losses due to Morgan Stanley’s misrepresentations about the quality of loans in the trust.

Those investors,...

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New York Southern

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Contract: Other

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April 28, 2014

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