MFI-Miami Investigates Illegal Foreclosures By Deutsche Bank

MIAMI--(Business Wire)--
MFI-Miami, LLC announced today that it`s narrowing its multistate investigation
into illegal foreclosures and is focusing exclusively on Deutsche Bank.

"Deutsche Bank is named as the trustee on nearly 50 percent of the fraud
investigations we have done in the past six months," says Stephen Dibert,
President of MFI-Miami.

In the majority of these cases, Deutsche Bank or its servicer almost never
produces or refuses to produce the original note and mortgage, or proof that the
transfer of the note has been validated. They freely admit this in the actions
filed in court. However, some minority homeowners don`t have the legal expertise
to understand how important these documents are to their case. They assume they
have no defense and don`t show up for the hearing.

In most of the cases MFI-Miami examines, Deutsche Bank has purchased these
mortgages and notes on the secondary market as part of a pool with other
mortgages. These mortgages have been traded by fund managers like baseball
cards.

"The practices of Deutsche Bank underscore the disorganized process financial
firms used in buying and selling mortgages on the secondary market, which is
done secretly behind closed doors," says Massachusetts Bankruptcy Attorney Glenn
F. Russell Jr. "They are turning the foreclosure process into the Wild West, and
many of these foreclosures are plainly illegal."

Stephen Dibert says, "In many of these cases, it appears that Deutsche Bank
management gave their approval to buy a lot of worthless paper on the secondary
market."

"Deutsche Bank retains law firms that aren`t interested in defending the
legitimacy of their claim," said Dibert. "Their purpose is to intimidate, obtain
default judgments, and foreclose as fast as possible against homeowners who are
uneducated about the legal foreclosure process. Joseph DeYounks of West Palm
Beach, Florida, is a perfect example. Deutsche Bank purchased his note on the
secondary market and is now attempting to foreclose on his home. The bank hasn`t
provided proof that it`s the legal owner, and the originating lender violated
Florida law by funding this loan without the proper lending license."

"Deutsche Bank is displacing minority homeowners at a methodical rate," says
Stephen Dibert, President of MFI-Miami.

Banks in South Florida are bringing foreclosure actions at an unprecedented
rate. Miami-Dade County averaged about 10,000 to 11,000 foreclosures in 2006. In
2008, according to the Miami-Dade County Clerk of Courts, foreclosures were in
excess of 56,000.

Miami Foreclosure Defense Attorney Shaun Rice, of De Armas, Millich, & Rice, PL,
says: "I strongly believe that minorities have suffered disproportionately as a
result precisely from banks like Deutsche Bank who often never had a legitimate
claim to bring a foreclosure action in the first place."

About MFI-Miami

Headquartered in Boynton Beach, Florida, MFI-Miami, LLC and its sister companies
conduct forensic mortgage audits and mortgage fraud investigations. MFI-Miami,
LLC is one of a few firms that investigate the transfer of the securitization
instruments of mortgages. For more information, visit www.mfi-miami.com, contact
561-317-9978, or email info@mfi-miami.com.

About Glenn F. Russell, Jr.

Glenn F. Russell, Jr. is located in Fall River, Massachusetts. He`s a member of
the Massachusetts and Connecticut Bar Associations, where he specializes in
foreclosure defense, bankruptcy, personal injury, and divorce law. For more
information, visit www.foreclosuresinmass.com, call 508-324-4545, or email
russ45esq@gmail.com.

About Shaun Rice

Shaun Rice is a foreclosure defense attorney located in Miami, Florida. He`s a
partner in the firm of DeArmas, Millich, & Rice, PL. For more information, call
305-913-6250 or email srice@dmrlegal.com.

MFI-Miami, LLC
Stephen Dibert, President,
MFI-Miami: 561.317.9978
MFI-Boston: 857.776.3030
info@mfi-miami.com or www.mfi-miami.com

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