Deutsche Bank, the DOJ and How $4B in Aid to Distressed Homeowners Evaporated
American Banker, Apr. 8, 2019–Kevin Wack (subscription)
The multi-billion dollar settlement did not actually require Deutsche to offer any loan modifications; they were merely one option on a menu of choices available to the bank. And after initially pledging to provide modifications, Deutsche Bank recently backed out of that plan, saying that it would instead fulfill its settlement obligations by financing new mortgages, some of which have gone to wealthy borrowers.
