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.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing