Get Your Mortgage Rate Quote in Just 30 Seconds

Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below.

Deutsche Launches Correspondent Unit

Deutsche Launches Correspondent Unit

Nonprime group based in Florida

June 4, 2004

By staff

The investment banking arm of a European banking conglomerate has decided to try its hand at correspondent mortgage lending in America. The unit will focus on closed loan purchases of nonagency loans.

Deutsche Bank Securities Inc., the U.S. investment banking and securities arm of Deutsche Bank AG in Germany, announced yesterday that it established a nonprime correspondent lending group.

The Boca Raton, Flo.-based operation purchases closed loans from originators on a bulk purchase and flow basis, the company said.

The group utilizes “state of the art technology to make selling non-prime products fast and efficient,” a company executive said in the statement. “With the use of automated systems, and other pricing and credit evaluation tools, we can provide our clients with tailored solutions to their non-prime mortgage lending needs.”

Management includes former executives of First Franklin, Lehman Brothers and Citigroup, Deutsche said.

Popular posts

7 Refinance Strategies
7 Refinance Strategies

Refinance to a lower interest rate: If interest rates have dropped since you took out your original mortgage, refinancing to a lower rate can help you save money on your monthly payments and reduce the overall cost of your loan. Refinance to a shorter loan term:...

7 Refinance Strategies
Is Refinancing With Your Present Lender Preferable?

Do Not Accept the First Refinancing Offer You Receive Homeowners should not accept the first refinancing rate provided to them. This is particularly important if you are applying with your existing lender. Some mortgage lenders have mechanisms in place that prioritize...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

Fannie Mae Profile

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC...