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Deutsche Unit Found Not To Have Properly Vetted Some RMBS

Law360, New York (June 22, 2015, 10:38 PM EDT) -- A Massachusetts federal judge on Monday ruled that a Deutsche Bank AG unit hadn't properly vetted one of 10 securitizations at stake in Massachusetts Mutual Life Insurance Co.'s suit accusing it of misleading investors over residential mortgage-backed securities, barring the bank from asserting a due diligence defense for that securitization.

U.S. District Judge Mark G. Mastroianni granted in part MassMutual’s motion for partial summary judgment, saying that more than 80 percent of the loans making up the ACE 2007-HE3 securitization underwritten by Deutsche Bank Securities Inc....
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