DOJ reaches mortgage settlements with Deutsche Bank, Credit Suisse and Moody’s

The Department of Justice (DOJ), Deutsche Bank and Moody’s have reached settlement agreements involving residential mortgage-backed securities (RMBS). The settlement with Deutsche Bank for $7.2 billion is the largest RMBS settlement for a single entity. Over $4 billion of the settlement will provide relief to distressed borrowers, underwater homeowners and their communities. Moody’s settlement totaled $864 million. DOJ has also announced a $5.28 billion settlement with Credit Suisse related to its conduct with RMBS between 2005 and 2007. Part of that settlement will be $2.8 billion in relief to homeowners and communities.

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