Mortgage-related legal claims hit $780m as backlash begins

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMike HistoryAt 66, This Is Bruce Willis’ Private CarMike HistoryDinnerZUTop 5 Foods That Help Lose Weight FastDinnerZUBewadaMan Decides to File for Divorce After Taking a Closer Look at This Photo!BewadaFoundation ExpertFoundation Repair Cost In Scottsdale May Surprise YouFoundation ExpertAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMediawomengetfreebies.comGet free samples sent to your home. 100% free. Sign up Nowwomengetfreebies.comEmergency Plumbing ServicesPlumber Prices In Scottsdale might surprise YouEmergency Plumbing Services5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®Cleaning Services | Search AdsHere’s What Cleaning Services In Scottsdale Should Actually CostCleaning Services | Search Ads Tags: NULL Mortgage-related legal claims hit $780m as backlash begins Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Wednesday 27 October 2010 8:51 pm KCS-content center_img whatsapp Show Comments ▼ DEUTSCHE Bank yesterday said it faces less than $1bn (£635m) of claims over mortgage-related securities it helped arrange, amid a growing backlash by clients seeking to recoup losses tied to the credit crisis.The bank’s chief financial officer Stefan Krause told a conference call that Deutsche currently has “approximately $780m of pending mortgage repurchase demands”, adding that it has made “more than adequate” provisions for these claims.Mortgage investors who bought home loans packaged into bonds are seeking redress following the poor performance of these assets.The investors say many securities they bought should never have been sold to them, claiming they fell short of stated standards. WoSome investors want banks to buy back the bonds.Deutsche said it sees no material impact on profit from legal challenges over US mortgage foreclosure practices because it does not have a US mortgage loan servicing business. The attorney general for all 50 US states is investigating whether banks that foreclosed on thousands of bad loans failed to review documents properly or submitted false information to evict delinquent borrowers. Sharelast_img

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