FHFA Announces $1.9 Billion Settlement With Deutsche Bank
For Immediate Release Contact:
Corinne Russell (202) 649-3032
Stefanie Johnson (202) 649-3030
December 20, 2013
FHFA Announces $1.9 Billion Settlement With Deutsche Bank
. Washington, DC -- The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement with Deutsche Bank AG, related companies and specifically named individuals for $1.925 billion to resolve claims in FHFA v. Deutsche Bank AG, et al., as well as certain other matters. The settlement addresses claims alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac between 2005 and 2007. Under the terms of the agreement, Deutsche Bank will pay approximately $1.63 billion to Freddie Mac and $300 million to Fannie Mae. As part of the settlement, FHFA, Fannie Mae and Freddie Mac will release certain claims brought against Deutsche Bank related to securities sold to Fannie Mae and Freddie Mac between 2005 and 2007. The settlement agreement does not release Deutsche Bank from any claims relating to LIBOR manipulation and does not include claims made against Deutsche Bank in two other PLS lawsuits presently the subject of ongoing litigation: FHFA v. SC Americas, Inc., et. al., and FHFA v. Countrywide Financial Corp., et. al. The other parties to those lawsuits were not part of the negotiations with Deutsche Bank. This is the sixth settlement that FHFA has attained pursuant to the 18 PLS lawsuits filed in 2011. FHFA remains committed to satisfactory resolution of the remaining actions. (Settlement Agreement follows; confidential materials omitted) THE COVERED SECURITIES Securitization Name CUSIP Action ACE 2005-AG1 004427BV1 Deutsche Bank ACE 2005-ASAP1 004421SY0 Deutsche Bank ACE 2005-HE6 004421SG9 Deutsche Bank ACE 2005-HE7 004421TV5 Deutsche Bank ACE 2006-ASAP1 004421VS9 Deutsche Bank ACE 2006-ASAP2 004421XB4 Deutsche Bank ACE 2006-ASAP3 00442VAA5 Deutsche Bank ACE 2006-ASAP4 00441UAA8 Deutsche Bank ACE 2006-ASAP5 004422AA9 Deutsche Bank ACE 2006-ASAP5 004422AB7 Deutsche Bank ACE 2006-ASAP6 00443KAA8 Deutsche Bank ACE 2006-ASAP6 00443KAB6 Deutsche Bank ACE 2006-CW1 00441QAA7 Deutsche Bank ACE 2006-FM1 00441VAA6 Deutsche Bank ACE 2006-FM2 00442CAA7 Deutsche Bank ACE 2006-HE1 004421WJ8 Deutsche Bank ACE 2006-HE1 004421WK5 Deutsche Bank ACE 2006-HE1 004421WL3 Deutsche Bank ACE 2006-HE2 004421YR8 Deutsche Bank ACE 2006-HE3 00441TAA1 Deutsche Bank ACE 2006-HE4 00442BAA9 Deutsche Bank ACE 2006-NC1 004421UP6 Deutsche Bank ACE 2006-NC2 00441XAA2 Deutsche Bank ACE 2006-NC3 00442EAC9 Deutsche Bank ACE 2006-NC3 00442EAD7 Deutsche Bank ACE 2006-OP1 00442PAA8 Deutsche Bank ACE 2006-OP1 00442PAB6 Deutsche Bank ACE 2006-OP2 00441YAA0 Deutsche Bank ACE 2007-ASAP1 00442JAA2 Deutsche Bank ACE 2007-ASAP2 00442UAA7 Deutsche Bank ACE 2007-ASL1 00443MAA4 Deutsche Bank ACE 2007-HE1 00443LAA6 Deutsche Bank ACE 2007-HE2 00443PAA7 Deutsche Bank ACE 2007-HE3 00442GAA8 Deutsche Bank ACE 2007-HE4 00442LAA7 Deutsche Bank ACE 2007-HE5 000797AA8 Deutsche Bank ACE 2007-SL1 00442FAA0 Deutsche Bank ACE 2007-WM1 004424AA5 Deutsche Bank ACE 2007-WM2 00442KAA9 Deutsche Bank Securitization Name CUSIP Action DBALT 2007-OA4 25151XAC5 Deutsche Bank DBALT 2007-OA4 25151XAE1 Deutsche Bank INDX 2005-AR31 45660LW39 Deutsche Bank INDX 2006-AR9 45661EGE8 Deutsche Bank MHL 2007-1 61915YAA9 Deutsche Bank NCHET 2006-2 64360YAP0 Deutsche Bank NHEL 2007-1 669971AA1 Deutsche Bank RAST 2005-A15 45660L4E6 Deutsche Bank RAST 2005-A15 45660L4F3 Deutsche Bank