Deutsche Bank Wasn't Cleared To Foreclose In Ark., Suit Says

Law360, New York (March 26, 2012, 5:41 PM EDT) -- Deutsche Bank National Trust Co. was hit Thursday with a proposed class action in Arkansas seeking a declaration that the bank wasn't authorized to operate in the state when it foreclosed on homes and transferred their titles in 2010.

Deutsche Bank, acting as trustee for Morgan Stanley ABS Capital I Inc. and other foreign and domestic trusts, conducted many foreclosures and foreclosure sales in Arkansas without obtaining the proper certificates from the secretary of state, invalidating all of the related title transfers, according to the complaint....
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