Deutsche Bank Faces U.S. Mortgage Fraud Lawsuit, Accused Of Lying To Be Included In Federal Program

Deutsche Bank Faces U.S. Mortgage Fraud Lawsuit, Accused Of Lying To Be Included In Federal Program

The United States sued Deutsche Bank AG, accusing the German bank and its MortgageIT Inc unit of repeatedly lying to be included in a federal program to select mortgages to be insured by the government.

In a civil complaint filed in U.S. District Court in Manhattan, the government said that defendants recklessly chose mortgages that violated program rules “in blatant disregard” of whether borrowers could make mortgage payments.

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