May 10, 2012
Deutsche Bank AG will pay $202 million to settle False Claims Act allegations it oversaw an out-of-control mortgage underwriting operation and left the Federal Housing Administration, which insured the loans, holding the bag, the U.S. Attorney in New York said Thursday.
December 21, 2011
A federal judge on Wednesday ordered U.S. prosecutors to rewrite a $1.1 billion lawsuit claiming a Deutsche Bank AG subsidiary drained federal insurance with reckless mortgage lending, faulting the government's poorly drawn link between the subsidiary and the German megabank.
November 02, 2011
Deutsche Bank AG can't dodge liability for MortgageIT Inc.'s allegedly reckless approval of mortgages for federal insurance, because it knew about those practices before buying the lender and later participated in the misconduct, the U.S. told a New York federal court Tuesday.
August 23, 2011
Deutsche Bank AG knew MortgageIT Inc. had recklessly underwritten thousands of suspect, government-backed loans before it bought the lender in 2007, making the financial giant responsible for its subsidiary's more than $1.1 billion worth of liabilities, federal officials said Monday.