By Alex Veiga, The Associated Press
LOS ANGELES, Calif. – The city attorney sued Deutsche Bank on Wednesday, claiming the giant international lender illegally evicted tenants from foreclosed properties and left dozens of homes and apartments to rot, many in low-income neighbourhoods.
The suit, filed in Los Angeles County Superior Court, accuses the bank of violating federal, state and city laws and seeks potentially hundreds of millions [...]
You thought the foreclosure mess was bad? Youâ€™re right about that. But it gets so much worse once you start adding in a whole bunch of parallel messes in the world of mortgage bonds. For instance, as Tracy Alloway (of FT Alphaville) says, mortgage-bond documentation generally says that if more than a minuscule proportion of notes in a mortgage pool werenâ€™t properly transferred, then the [...]