Deutsche Bank as the lender

[caldwellb02]

I have Deutsche as my lender on my first (Chase is the servicer) and Deutsche is not playing nice. Does anyone here have an insight into Deutsche or experiences I might use to help my case?

[StressedAtBest]

Originally Posted by caldwellb02

I have Deutsche as my lender on my first (Chase is the servicer) and Deutsche is not playing nice. Does anyone here have an insight into Deutsche or experiences I might use to help my case?

Was Deustsche actually the original lender on yours? My original loan was with New Century, but it is listed as "Deustche Bank National Trust Company, As Indenture Trustee For New Century Home Equity Loan Trust." To further complicate things, Carrington Mortgage is the servicer. I am getting ready to request remodification, so if you are having difficulty with Deutsche, please let me know what you are experiencing. I don't know if our situations would be same or similar, being that they are Indenture Trustee on mine.

Can you expound a little on how they are not playing nice? TIA

[caldwellb02]

Deutsche was not the original lender. I have no official document that says they are the current lender. I have just been told they are by Chase.

I am currently on the search for who to contact at Deutsche. I tried contacting them in the summer but was stonewalled. I think every one of us who has Deutsche has the lender should start looking at this, researching. and figuring out who to contact. I don't care where they are from. They are the lenders for AMERICAN properties and they must be held accountable.

[Mountain life]

Caldwell: I also have Deutsche Bank as my investor and CHASE as my servicer. I am concerned because I am two months behind on my mortgage ( I am re-applying for a modification via the CHASE Homeownership Center which requires you to be late in your payments) and while I was talking to a CHASE representative about submitting this month's mortgage payment (so I would not be three months behind) the representative from loss mitigation told me that I should be careful not to go three months without a payment because my investor, Deusche Bank will commence foreclosure proceedings immediately at three months without a payment. I do not know if she was just trying to scare me (she did) but I wanted to share it with you because I know you are also on your third month of non-payment. It seems like we have to keep one step ahead of the ruthless banks!

[caldwellb02]

Mountain - thanks. Too late now. I have my mod request in everywhere. If Deutsche is that ruthless then they, too, need to be exposed. A collections person once told me that Deutsche forecloses after you are one month late and I told her that "well then you don't know California law." If I pay this month I can't pay next. It's impossible for me to pay my mortgage as it is. so I'm either three months behind this month, or three months behind the next. I need, deserve, and qualify for a mod.

Moe - if you see this, what do you know about Deutsche?

[caldwellb02]

I did find one post by a lay person that Deutsche started playing re: modifications at the end of August, but I can find no confirmation.

Still looking.

[litehouse01]

I can give you a little insight on Deutsche Bank....they foreclosed on home down the street from me...they were ruthless......I can remember the day they came and kicked them out.....the house was posted the people had to move fast to get as much of their belongings as they could out of the house...the next day Deutsche bank had a crew there and they brought in one of those large dumpsters the kind that come on a roll back truck and they filled the dumpster with all that the family couldn't get out because it happened so fast they filled the dumpster to the top and I remeber seeing the baby crib and mattress on the very top of the stuff the mattress still had the crib sheet on it...I will never forget it as long as I live it made me cry...I felt so bad for them and still so...the house sits vacant I checked the public records and the house is now in deutsche banks name....there is now a contract on the house for half of what it originally sold for..but it has not settled yet..seeing that happen saddened me and scared me and a whole host of emotions. It really put the human side of this nightmare we are all in in to focus. And I think to myself it could be any one of us anytime. It makes you think and not take things for granted.

[caldwellb02]

I have never heard a peep from Deutsche. They are the lender. I'm thinking that if I can make enough noise there is no way that Jamie Dimon (Chase CEO) is gonna let them steamroll anyone.

I'm thinking your unfortunate neighbor, litehouse, had Deutsche as the servicer as well. Deutsche had better not try with me. I have connections with the County Sheriff, the fire dept, and the newspapers. It could get nasty.

[kathyG]

First of all..I hate to be the bearer of bad news..but going into my ONE YEAR ANNIVERSARY...of trying to do a loan modification with Deutsche Bank as my investor I can tell you several things:

1)Deutsche Bank DOES NOT DO LOAN MODIFICATIONS..Period..For anybody! Don't believe me, contact Indymac Bank/OneWest Bank and ask them this questions, "Has Deutsche Bank done any loan modifications? Does Deutsche Bank DO loan modifications? How about if you qualify under HAMP?"...if you ask this them directly..they will tell you, "Deutsche Bank at this time does not participate in ANY loan modification. But we will keep your information on file in case that changes in the future"..Sorry but that is the truth. Try doing google "Deutsche Bank loan modification success"..I can tell you, that there are none. Instead there tons of stories of failed ones, desperation and run arounds. All OneWest is doing is collecting paper.

2)Foreign Owned Deutsche Bank is one the biggest holders of American mortgages in this country. Sadly, they are also one of the largest lenders doing foreclosures. They will have no mercy in taking your home. I have been tracking them in my area and the people on this board are correct. Whatever state they hold the note in they follow to the last dot on the I, whatever the time period is they can start foreclosure proceedings. If it is 3 months, they start at 3 months...and so on.

Sorry to be so honest, but I swear what I tell you is the truth with this foreign lender. I rather have fellow homeowners prepare themselves for the worst case scenerio than hold on to hope. This investor offers none. This is part of the reason for the demise of the housing market. No longer do our banks hold our notes, they are now just "bill collectors/servicers."

I have written my local congressman, I have contacted HOPE(their reponse, "We can't FORCE a lender to participate in a modification program, including HAMP.") The person at HOPE says they get phone calls everyday about Deutsche Bank not wanting to do anything.

[litehouse01]

Just be prepared to CYA..in the event they try something..I don't know for sure but it would seem to me they were probably the owner and servicer as you suggested.......I hope I never see anything like that again in my lifetime.....It has left a lasting impression on me and every time I pass the house I think about it.......

[kathyG]

FYI..as far as contacting Deutsche Bank directly..they have been very good at not getting their loan department number published.

Most of the websites on the web, direct you to call the "number on their loan statement."

If you try calling the bank directly, they have trained their people to not give out the number. They tell you like they are talking from a script, "Contact your servicer."

Someone needs to get a major newpaper/magazine to publish the truth of how this foreign bank is treating American homeowners.

[caldwellb02]

Hey all - thank you for the information. This may be the next direction of my fight, depending on what I hear this week. I was NEVER informed that my mortgage had been sold to Deutsche. I found out after asking Chase during this mod process. Quite frankly it will reflect very badly on Chase if all of the Deutsche holdings foreclose. So there may be some motivation there. However, I am ready.I have alot of willpower. I have tried to call Deutsche before, and the answer, as Kathy said, is "call your servicer." Perhaps we need a campaign against this foreign ****roach that is ruining the American Dream.

[ama125]

Originally Posted by caldwellb02

Hey all - thank you for the information. This may be the next direction of my fight, depending on what I hear this week. I was NEVER informed that my mortgage had been sold to Deutsche. I found out after asking Chase during this mod process. Quite frankly it will reflect very badly on Chase if all of the Deutsche holdings foreclose. So there may be some motivation there. However, I am ready.I have alot of willpower. I have tried to call Deutsche before, and the answer, as Kathy said, is "call your servicer." Perhaps we need a campaign against this foreign ****roach that is ruining the American Dream.

Caldwell, if anyone can go on a campaign, I KNOW you can and I will have your back every step of the way! I think we need a petition to Deutsche Bank next!
PS - I do think it is funny that c-o-c-k-roach got flagged in your post!

[flagirl4444]

They didn't receive any TARP funds and are a foreign bank, so they are in no way required to participate in HAMP or any other modification programs. Unfortunately it sounds like an uphill battle. I believe it was May of this year in which a new law was passed that requires the new owner of the loan to notify you within 30 days if your loan is sold to another investor. Prior to that, they only had to notify you if the servicing rights were sold/transferred but not if the actual note was sold. Has Chase always been your servicer? If that the servicer didn't change and only the note was sold, there was nothing they would have been required to notify you about.

[caldwellb02]

Wamu/Chase has already been my servicer.

That said, I am not giving up the fight. The lender does have to have the note, however. And they do have to answer my QWR, which Chase just acknowledged they have today.

Flagirll - there are no absolutes in this world. There are brick walls, but if your eyes are open you can go around them.

[bloominga]

caldwell - ama

let me know when you're ready for a blitz!!

[MyHAMP]

I can tell you that Deutsche Bank has a very bad reputation in Germany as well (very arrogant CEOs).

A little investment-"error" where Deutsche Bank was scammed by a guy who was later arrested in Florida. When the bank was asked about the damages that scam caused, a CEO said something that made the average Joe very mad:

"The scam caused a damage of about 500 Million Euros. We are talking about PEANUTS here...."

[flagirl4444]

You never know, you could get lucky and your loan may be sold again to someone who does allow modifications. There have been a few stories here from people who have even had theirs sold during the modification process.

[ama125]

Let's petition them to sell your loan! That would be a new one!!!

[MyHAMP]

Originally Posted by ama125

Let's petition them to sell your loan! That would be a new one!!!

Deutsche Bank NEVER sells. They only buy stuff at an inflated price to look fancy. That's what they do in Germany and that's what they did here.

BTW, many GERMANS lost their pensions and retirement-funds due to DB's irresponsible decisions on the American real estate market (they labeled these investments as "absolutely safe") - so there is suffering on both sides of the Atlantic...

[Catherine]

I too have Deutsche bank listed as my investor. What really got to me was why did my loan servicer Home Loan Services have me spent months jumping through hoops when the end result was the investor denied it all? Why did they waste my time and theirs with false hope, lies and stall tactics if a denial was going to be the outcome anyway? They had to know!! To me that is beyond cruel to put anyone through. If a bank in Germany doesn't care about the American way and the people of this country then who does? I don't understand why a simple honest answer like DB is your investor therefore our hands are tied to help you with a loan mod. Plus after I read they got 11.2 million or billion from AIG are they in bed with them and our own government set us up too? This greed that screams scam goes beyond anything I have ever dealt with because it takes the people and tears them apart for it. Sorry for going off. I don't get it and fear the real truth behind this if I did, Catherine

[booggs28]

some interesting reading on deutsche - I have posted other articles in new friends chat as well -

http://tycoonreport.tycoonresearch.c...action=printer

[StressedAtBest]

Here's one that was approved in December of 2008:

http://www.reslawcenter.com/Loan%20M...istory%203.pdf

[StressedAtBest]

Excerpt from an August, 2009 publication:



Wells Fargo refused to provide additional information about the investor or how it works with investors. Experts say investors rarely are involved in an individual loan modification decision. "The investors are a convenient scapegoat," says Guy Cecala, publisher of Inside Mortgage Finance. "There's no way for investors to veto a loan mod."


ProPublica: Analyzing the Loan Modification Process

[kathyG]

Here is the problem StressAtBest...that loan modification provided by the law office does NOT state who the investor is..so far all we know it could have been a Indymac owned loan. It doesn't give proof of a "Deutsche Bank Loan Modification."

Second, this loan was done prior to Indymac becoming owned by OneWest..which says to me the likelyhood is that this was a loan that was probably a screwed up one that needed to be modified prior to the takeover. If you remember, it was VERY convenient that a few months prior to the takeover Indymac was being made a ROLE MODEL by the US goverment for how to do loan modifications. We now know that MANY of these loans done by such lenders as Indymac and Countrywide were done very wrong, some missing paperwork, not recorded properly and so on. So the reality is that any loan mods that were done prior to the takeover were really the ones that had to be fixed. It was not from the goodness of the lenders heart.