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Ace Mortgage

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Kempthorne gives Camelford crucial point at Cullompton | News

Wednesday, February 13

Walter C Parson Funeral Directors League Cup (quarter-final)

Saltash United 6

Launceston 1


Saturday, February 16

Carlsberg South West Peninsula League

Premier Division

Cullompton Rangers 1

Camelford 1

MIKE Kempthorne’s deflected effort gave the Camels a much needed boost as they earned their first point of the year.

Reg Hambly’s men hadn’t played since January 26 when they lost 3-0 at Millbrook and it showed in the opening 20 minutes as the East Devon side bombarded the visitors’ backline.

They eventually went ahead through Rhys Parsons but Camelford gradually worked their way into the match before the break.

The second-half was much more even with both sides having more than a dozen shots in total and the Camels grabbed a fantastic point as Kempthorne’s 20-yard shot found its way in.

Can the Great Recession happen again?

I am not quite sure exactly when I received “The Subprime Primer,” a slide deck that someone e-mailed me early in 2008. I do remember thinking that it was unlikely ever to be surpassed as an introduction to the financial chain reaction that began as I was writing “The Ascent of Money” and reached its climax in the months after the failure of Lehman Brothers, the 10th anniversary of which fell Saturday.

Illustrated with foul-mouthed stick men, the Subprime Primer’s 45 slides told the story of how “crappy” mortgage loans made by “Ace Mortgage Brokers” came to be sold to “First Bank of Bankland, Inc.,” who then sold them to “RSG Investment Bank of Wall Street.” The really smart guys (hence RSG) were the ones who came up with the idea of “creat[ing] a new security and us[ing] these crappy mortgages as collateral,” and then selling the resulting collateralized debt obligation to investors such as the “Norwegian Village Pension Fund.” We all now know how the story ended.

Who took over Ace Mortgage's home loans?

My mortgage was with Ace, and we haven't gotten anything telling us who has our loan now... or where to send the payment.

Companies like ACE are only brokers who sell the mortgages to someone else. So you do not know who actually owns your mortgage. If you were making your mortgage payments to ACE they were probably just servicing the loan.