Deutsche Bank Purchases Originator To Boost Mortgage Securities Business
May 26, 2006
With hopes of boosting its residential mortgage-backed securities business, Deutsche Bank will acquire Chapel Funding, a California-based mortgage originator. Terms of the sale were not disclosed and it is subject to regulatory approval. “This transaction is an important step for Deutsche Bank as we continue to develop a vertically integrated residential mortgage-backed securities business,” said Phil Weingord, a Deutsche Bank managing director. “The integration of a mortgage originator will provide significant competitive advantages, such as…