Deutsche Bank Securities Inc., New York, has announced the formation of a Correspondent Lending Group in Boca Raton, Fla., that buys closed subprime mortgage loans from originators on a bulk and a loan-by-loan flow basis.The group has hired Maxine Matteo, who was most recently employed by First Franklin/National City Bank, as managing director of correspondent lending. Ms. Matteo reports to Michael Commaroto, who heads Deutsche Bank Securities' private-label mortgage-backed securities and whole loan trading in New York. Deutsche Bank can be found on the Web at http://www.deutsche-bank.com.
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