Monday, December 3, 2007

MORTGAGES | Weak Links Exposed in Ohio

Dec. 3, 2007–The attempts by Deutsche Bank to foreclose on dozens of properties in Cleveland have turned the attention of three Ohio judges - Judges Boyko and O’Malley of Cleveland and Judge Rose of Dayton–to the paperwork behind subprime loans.

Deutsche Bank apparently owns as Trustee some 900 properties in Cuyahoga County, Ohio.

The global web of mortgage securitization seems to be missing the needed loan documents. Read this story from Callahan's Cleveland Diary.