U.S. Sues Deutsche Bank Over Mortgage Procedures

The United States sued Deutsche Bank (DB) on Tuesday, blaming the German bank and its MortgageIT unit of continuously lying to be part of a federal program to select mortgages to be insured by the federal government. In a civil complaint filed in the Federal District Court in Manhattan, the government asserted defendants had recklessly selected mortgages that violated program guidelines “in blatant disregard” of whether borrowers might make home loan payments. – The NYT