|dc.description.abstract||Deutsche Bank Berkshire Mortgage Services is the world's largest real estate asset
manager. Having over 600 billion dollars worth of assets worldwide, it is a financial institution
that incorporates both underwriting and asset management divisions in their mortgage services.
These two divisions collaborate in order to ultimately maximize returns to the bank, but also
frequently experience a conflict of interests due to specific reasons that will later be discussed in
this paper. I completed my experiential internship in the Asset Management branch of Deutsche
Bank Berkshire Mortgage Services during the summer of2008 in Bethesda, MD. Within this
division I worked under Richard Marion, Vice President of Loss Mitigation.
Although Loss Mitigation is a very specific sector of Asset Management, many of the
roles within the entire department were inter-related and interchangeable as well. The nature of
all these relationships contributed to the diversity of my internship. On a day to day basis
everything appeared to function independently, but beyond the surface the inherent dependency
between the divisions manifested itself through collaboration in order to ultimately provide the
best mortgage services with the interest of the bank as well and its investors as the first priority.
The goals of this paper are to detail my experiences at the bank as well as apply the
knowledge that I gained to important economic principles and recent market events. I will first
provide a brief description of my job responsibilities and the valuable lessons that I received and
then give a synopsis of the relevant market crisis by combining my personal experiences with the
research that I have conducted on the topic.||en_US
|dc.relation.ispartof||Kalamazoo College Economics and Business Senior Individualized Projects Collection||
|dc.relation.ispartofseries||Senior Individualized Projects. Economics and Business.;||
|dc.rights||U.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.||
|dc.title||Deutsche Bank Berkshire Mortgage Services, LLC: The Subprime Mortgage Crisis||en_US
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