Recent Decisions Dismissing Foreclosures
Although their exact structure can vary greatly, these securities typically represent claims to the cash flow from pools of residential mortgage loans. The normal course of mortgage-backed securitization begins with residential homeowners who purchase mortgage loans from individual banks and other lending institutions.
These mortgages are assembled by governmental, quasi-governmental and private entities and are then reissued as securities that represent claims to future principal and interest payments made by mortgagee homeowners.
There is little...
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