Search for: "Mortgageit"
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25 Oct 2012, 10:09 am
The federal government has sued the second-biggest bank in the country, Bank of America Corp. [read post]
30 May 2012, 7:20 am
By the end of 2007, MortgageIT was not reviewing those loans. [read post]
14 May 2012, 8:50 am
And speaking of mortgages, earlier this week, “Deutsche Bank AG (DBK) agreed to pay $202.3 million to settle civil claims that its MortgageIT unit lied to qualify thousands of risky mortgages for a federal insurance program in what the U.S. called a ‘massive fraud. [read post]
14 May 2012, 8:50 am
And speaking of mortgages, earlier this week, “Deutsche Bank AG (DBK) agreed to pay $202.3 million to settle civil claims that its MortgageIT unit lied to qualify thousands of risky mortgages for a federal insurance program in what the U.S. called a ‘massive fraud. [read post]
11 May 2012, 6:32 am
(collectively "Deutsche Bank") and MortgageIt, Inc. [read post]
11 May 2012, 4:25 am
Deutsche Bank And MORTGAGEIT Settle Federal Fraud Charges For $202 MillionUS Attorney Preet Bharara racks up a major settlement with Deutsche Bank involving HUD fraud -- maybe SEC Enforcement Director Khuzami could learn some lessons (as in Citigroup)? [read post]
11 May 2012, 4:13 am
... [read post]
19 Dec 2011, 5:35 am
Allen Stanford, the Texas financier accused of leading a $7 billion investment fraud, is scheduled to appear in a 10 a.m hearing to determine whether he is mentally fit to stand trial next year. (4:09-cr-00342) Wednesday, Dec. 21 -Judge Lewis Kaplan in Manhattan federal court is scheduled at 10 a.m. to hear arguments on Deutsche Bank’s motion to dismiss a $1 billion lawsuit by the U.S. over the underwriting practices of its former unit, MortgageIT. (1:11-cv-02976) -The… [read post]
14 Aug 2011, 6:18 am
The record of the case shows Wells Fargo tried to prove ownership through a certified copy of the original deed of trust and note, each listing MortgageIT Inc. as the lender, and a notarized statement from a Wells Fargo employee claiming Wells was the rightful possessor of the deed of trust and mortgage and any later assignments. [read post]
15 Jul 2011, 10:33 am
Since an assignment of an interest in land must be in writing, the Supreme Court concluded that “to prove that MortgageIt properly assigned its interest in land via the deed of trust to Wells Fargo, Wells Fargo needed to provide a signed writing from MortageIt demonstrating that transfer of interest. [read post]
24 Jun 2011, 1:31 am
The complaint, which alleges that the defendants “concealed the Company’s failure to write down impaired securities containing mortgage-related debt,” asserts that the defendants concealed that: (a) defendants failed to record adequate provisions for losses on the deterioration in mortgage assets and collateralized debt obligations on Deutsche Bank’s books caused by the high amount of non-collectible mortgages included in the Company’s portfolio; (b)… [read post]
12 May 2011, 12:10 pm
It also acquired MortgageIT, a company that had issued many bad loans about which it lied. [read post]
11 May 2011, 8:06 am
The Charges against Deutsche Bank According to the lawsuit, Deutsche Bank and its subsidiary MortgageIT: Initiated risky mortgage loans to homebuyers. [read post]
10 May 2011, 10:29 am
According to the complaint, Deutsche Bank and MortgageIT “repeatedly lied to HUD to obtain and maintain MortgageIT’s Director Endorsement Lender status. [read post]
9 May 2011, 8:15 am
Among the government's allegations is a charge that documents which would have informed bank officials about high rates of default were hidden in a closet at MortgageIT. [read post]
9 May 2011, 7:25 am
Deutsche acquired MortgageIT in 2007. [read post]
6 May 2011, 2:50 pm
Deutsche Bank bought MortgageIT in January of 2007. [read post]
5 May 2011, 3:51 pm
Attorney for New York accuses MortgageIT of approving loans with no effort to investigate whether borrowers could afford them; many such loans were later undled into securities and sold. [read post]
5 May 2011, 9:53 am
" Additionally, the spokeswoman claimed that as much as 90% of the activity alleged in the lawsuit occurred prior to Deutsche's acquisition of MortgageIT. [read post]
