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Deutsche Bank Reviews MBS Unit.

Mortgage Servicing News

| February 01, 2008 | COPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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Source: HighBeam Research, Deutsche Bank Reviews MBS Unit.

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