AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
New York -- Deutsche Bank, a top-ranked issuer of subprime MBS, in the first quarter will conduct a top-to-bottom review of its entire mortgage business, according to officials at the company.
A spokeswoman for the bank confirmed that a review will soon be underway, adding that there may be a reallocation of assets. Like many Wall Street firms, DB has both an active trading desk and a warehouse lending group that caters to the nonprime sector, a business that is in the throes of a historic correction. DBs trading desk is overseen by Michael Commaroto, who is listed in SEC documents as president of Deutsche Mortgage Securities.
In 2006, DB purchased Chapel ...
Source: HighBeam Research, Deutsche Bank Reviews MBS Unit.