Deutsche Bank loses bid to end FHFA mortgage lawsuit
NEW YORK Nov 12 (Reuters) - A U.S. judge on Monday rejected Deutsche Bank AG's bid to dismiss a federal regulator's lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying billions of dollars of risky mortgage debt.
U.S. District Judge Denise Cote in Manhattan said the Federal Housing Finance Agency, which had sued over roughly $14.2 billion of securities, may pursue fraud claims over the German bank's representations in offering materials regarding mortgage underwriting standards.
Cote previously refused to dismiss FHFA lawsuits against Bank of America Corp's Merrill Lynch unit, JPMorgan Chase & Co and UBS AG over Fannie Mae and Freddie Mac mortgage losses.
- Tweet this
- Share this
- Digg this
- South Korea recovers first bodies from inside sunken ferry |
- Surrender talks set with separatists in Ukraine as standoff lasts into Easter |
- Malaysian plane search in 44th day, sea bed scans could end in days
- Special Report - How the U.S. made its Putin problem worse
- Angry relatives clash with police as Korea recovers more dead from ferry |