Deutsche Bank National Trust Company Does NOT Legally Exist as Trustee for Borrower Loans
MAR 10, 2020 | REPUBLISHED BY LIT: OCT 13, 2021
Several readers have sent me information regarding DBNTC and pointed out that I had misstated the status of DBNTC in past articles. I think they were at least partially right. Thanks to all the readers who sent in comments and information.
DBNTC is a name change from Banker’s Trust which was a real bank, organized and existing under national charter. So DBNTC exists under a national charter. But DBNTC is not a bank in the sense that it makes loans or collects deposits from customers. It is a trust management company. So bottom line, DBNTC does exist as a legal entity.
The conflict arises when the DBNTC name is used in conjunction with a REMIC Trust. This might appear as
“DBNTC as Trustee for the XYZ Trust” or
“DBNTC as Trustee on behalf of the holders of certificate series ABC-2008A” or
“DBNTC as Trustee for certificate series ABC-2008A” or
“DBNTC” as Trustee for the certificate holders of XYZ Trust series ABC-2008A”
Despite the variation in names it all adds up to the same thing.
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