Homeowners Use 'show Me The Note' To Fight Foreclosure

RPT-Fitch affirms Korea ACE Mortgage class A notes at 'AAAsf'/stable





The trustee in the Gewecke case, US Bank, argues that Minnesota law does not require an assignment a public record showing a transfer of the mortgage at every step of its path into a trust. It also says that the note was put into the trust on time and so the mortgage was too. US Bank says it can prove that it owns the Geweckes' mortgage because it has the original note, the trust mentions the Gewecke loan and US Bank has an assignment that shows the mortgage was transferred from the Geweckes' original lender to US Bank. For the original version including any supplementary images or video, visit http://usatoday30.usatoday.com/money/economy/housing/2010-12-21-mortgagenote21_CV_N.htm











The absence of interest-only loans also renders the portfolio more resilient to stress. Delinquency and foreclosure rates in Korea ACE's portfolio remain low. The three-month average delinquent mortgage loan ratio, which covers loans between 60-89 days past due, was 0.05% at end-October 2013, well below the transaction's trigger at 2.75%. Loans under foreclosure were less than 0.1% of the outstanding pool balance. For the original version including any supplementary images or video, visit http://uk.reuters.com/article/2013/12/06/fitch-affirms-korea-ace-mortgage-class-a-idUKFit67947420131206