Attorney General's Foreclosure Argument Tossed

Cincinnati Enquirer (02/05/08); Korte, Gregory
A Hamilton County, Ohio, magistrate has rejected the argument of Ohio Attorney General Marc Dann that Deutsche Bank National Trust Co. cannot foreclose on a borrower's home unless it has the paperwork to prove that it owns the mortgage. Deutsche Bank did not have the documents when it filed its case, similar to other lenders that experience a lag in paperwork as they buy and sell mortgages; but courts usually allow foreclosures to proceed anyway. Dann's strategy for slowing foreclosures in Ohio is being watched across the country; and it has the potential to affect 40 percent of foreclosures, according to studies. He now plans to file an objection to the magistrate's ruling with Common Pleas Judge Robert Ruehlman.