0000891092-18-008236.txt : 20181114 0000891092-18-008236.hdr.sgml : 20181114 20181114072947 ACCESSION NUMBER: 0000891092-18-008236 CONFORMED SUBMISSION TYPE: ABS-15G PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20180930 ITEM INFORMATION: Periodic Filing of Rule 15Ga-1 Representations and Warranties Disclosure FILED AS OF DATE: 20181114 DATE AS OF CHANGE: 20181114 ABS RULE: RULE-15GA1 PERIOD START: 20180701 N N ABS ASSET CLASS: Residential mortgages - Other/Combined FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACE SECURITIES CORP CENTRAL INDEX KEY: 0001063292 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 562088493 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: ABS-15G SEC ACT: Dodd Frank Act SEC FILE NUMBER: 025-01082 FILM NUMBER: 181180429 BUSINESS ADDRESS: STREET 1: 6525 MORRISON BLVD STREET 2: SUITE 318 CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 7043650569 MAIL ADDRESS: STREET 1: 6525 MORRISON BLVD STREET 2: SUITE 318 CITY: CHARLOTTE STATE: NC ZIP: 28211 ABS-15G 1 e2775abs15g.htm ASSET-BACKED SECURITIZER REPORT

OMB Number: 3235-0675

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM ABS-15G
ASSET-BACKED SECURITIZER
REPORT PURSUANT TO SECTION 15G OF
THE SECURITIES EXCHANGE ACT OF 1934

ACE Securities Corp.

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

 X  Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period July 1, 2018 to September 30, 2018

Date of Report (Date of filing): November 14, 2018

Commission File Number of securitizer: 025-01082

Central Index Key Number of securitizer: 0001063292

Karla L. Boyd

(704) 365-0569

 

Name and telephone number, including area code, of the person to
contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) [ ]

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) [ ]

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) [ ]

____    Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: __________________________


(Exact name of issuing entity as specified in its charter)

Central Index Key Number of issuing entity (if applicable): ______________

Central Index Key Number of underwriter (if applicable): ________________

 

 

Name and telephone number, including area code, of the person to contact in connection with this filing

 

 

REPRESENTATION AND WARRANTY INFORMATION

Item 1.02 Periodic Filing of Rule 15Ga-1 Representations and Warranties Disclosure

The disclosures required by Rule 15Ga-1 (17 CFR 240.15Ga-1) are attached as Exhibits to this Form ABS-15G. Please see Exhibit 99.1 and Exhibit 99.2 for the related information.

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  ACE SECURITIES CORP.
Date: November 14, 2018 /s/ Karla L. Boyd__________________
  Name:  Karla L. Boyd
  Title:  President

 

 

 

EXHIBIT INDEX

 

 

Exhibit Number

 

99.1 Table for Form ABS-15G (Repurchase reporting)
99.2 Explanatory Notes

 

 

 

 

EX-99.1 2 e2775ex99-1.htm TABLE FOR FORM ABS-15G (REPURCHASE REPORTING)

Exhibit 99.1

 

Name of Issuing Entity Checked if Registered  Name of Originator  Total Assets in ABS by Originator  Assets That Were Subject of Demand Assets That were Repurchased or Replaced Assets Pending Repurchase or Replacement
(within Cure Period)
Demand In Dispute Demand Withdrawn Demand Rejected
(a) (b) (c ) # (d)  $ (e)  (% of Principal balance)  (f) #  (g) $  (h) (% of Principal balance)  (i) #  (j) $  (k) (% of Principal balance)  (l) #  (m) $  (n) (% of Principal balance)  (o) #  (p) $  (q) (% of Principal balance)  (r) #  (s) $  (t) (% of Principal balance)  (u) #  (v) $  (w) (% of Principal balance)  (x)
ACE Securities Corp. Home Equity Loan Trust, Series 2007-WM1 CIK# 0001386635 x WMC Mortgage Corporation 4,591  $  853,364,263.40 100.00% 2,297 $83,026,315.52 56.96% 0 $0.00 0.00% 0 $0.00 0.00% 0 $0.00 0.00% 2,297 $83,026,315.52 56.96% 0 $0.00 0.00%
ACE Securities Corp. Home Equity Loan Trust, Series 2007-WM1 Total     4,591  $  853,364,263.40 100.00% 2,297 $83,026,315.52 56.96% 0 $0.00 0.00% 0 $0.00 0.00% 0 $0.00 0.00% 2,297 $83,026,315.52 56.96% 0 $0.00 0.00%
    Grand Total: 4,591 $853,364,263.40 100.00% 2,297 $83,026,315.52 56.96% 0 $0.00 0.00% 0 $0.00 0.00% 0 $0.00 0.00% 2,297 $83,026,315.52 56.96% 0 $0.00 0.00%

 

 

 

EX-99.2 3 e2775ex99-2.htm EXPLANATORY NOTES

Exhibit 99.2

ABS-15G Explanatory Notes

In connection with the preparation of this filing, we undertook the following steps to gather the information required by this Form ABS-15G and Rule 15Ga-1: (i) identifying all asset-backed securities transactions in which we acted as a securitizer that were not the subject of a filing on Form ABS-15G by an affiliated securitizer, (ii) performing a diligent search of our records and the records of affiliates that acted as securitizers in our transactions for all relevant information, (iii) reviewing appropriate documentation from all relevant transactions to determine the parties responsible for enforcing representations and warranties, and other parties who might have received repurchase requests (such parties, “Demand Entities”) and (iv) making written request of, or entering into a written agreement with, each Demand Entity to provide any information in its possession regarding requests or demands to repurchase any loans for a breach of a representation or warranty with respect to any relevant transaction. We followed up written requests made of Demand Entities as we deemed appropriate.

In many cases, the entity identified as “Originator” is the entity that sold the assets to the sponsor, based on the sponsor’s records. This entity may or may not be the original lender on the assets. (For columns c-f)

Data about “Total Assets in ABS by Originator” is based on outstanding principal balances of assets in the ABS at the time of the securitization and includes pre-funded assets. (For columns d-f)

Assets included in “Assets That Were Subject of Demand” include (i) assets where a demand was made during the reporting period or (ii) where a demand was made prior to the reporting period and there was activity occurring during the reporting period. (For columns g-i). The outstanding principal balance of each asset in these columns (and all columns to the right) is as of the end of the reporting period or reflects the most recent balance available for assets that remain in the pool at that time; if an asset has been charged off, liquidated or otherwise removed from the pool prior to or during a reporting period, the corresponding outstanding principal balance used in calculating columns (h) through (x) is zero.

“Assets that were Repurchased or Replaced” may include assets that were previously liquidated and for which a make-whole payment was made. (For columns j-l)

“Assets Pending Repurchase or Replacement” includes only assets for which a decision to repurchase, replace or make-whole had been approved during the reporting period but such action has not been completed, and are shown without regard to cure period status. (For columns m-o)

“Demand in Dispute” includes assets for which a decision to dispute the demand was made during the reporting period and assets for which the securitizer made, or intended to make, during the reporting period a request for further information about a demand previously presented. If a demand has been rejected, it will not be considered to be in dispute absent a subsequent communication or other indication that the demand remains in dispute. (For columns p-r)

“Demand Withdrawn” shows assets where the repurchase demand was withdrawn by the trustee, or by any other party that made the demand, which demand may have been withdrawn in connection with a settlement. (For columns s-u)

“Demands Rejected” shows assets where a repurchase demand has been rejected by the securitizer or by any other party that would be obligated to repurchase the asset if the claim had been valid. (For columns v-x)

For assets where more than one activity occurred during the reporting period, only the most recent activity is reported above, provided that an asset subject to a demand to repurchase may be listed in both the “Assets That Were Subject to Demand” column as well as an additional column showing the most recent activity or status during the reporting period. No asset is included in the information provided unless at least one activity described above occurred during the reporting period.