Investors Lose Sampling Bid In Deutsche Bank RMBS Suit
Law360, London (May 18, 2018, 2:58 AM BST) -- Investors suing Deutsche Bank National Trust Co. and an affiliate for allegedly failing to properly oversee a slew of residential mortgage-backed securitization trusts can't use loan sampling to help make their case, a New York federal judge ruled Thursday.
U.S. District Judge Jesse M. Furman said that while the investors' proposed sampling might be faster and cheaper than re-underwriting every loan in the trusts, it still wouldn't be worth it.
"Because plaintiffs need to prove liability and damages on a trust-by-trust and loan-by-loan basis, there is no benefit to sampling beyond what it reveals about the loans within the sample," Judge...
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