Miami Bankruptcy Lawyer - American Securitization Forum - White Paper

On November 16, 2010, the American Securitization Forum has posted a white paper on the topic of "Transfer and Assignment of Residential Mortgage Loans in the Secondary Mortgage Market." The white paper was drafted to address "a number of legal theories questioning whether securitization trusts ...have valid legal title ... to the mortgage notes in those trusts."

The white paper asserts as one of its most critical principles is that when ownership of a mortgage note is transferred in accordance with common securitization processes, ownership of the mortgage is automatically transferred pursuant to the centuries old common law rule that "the mortgage follows the note." It further asserts that "this means that the assignment of a mortgage to a trustee does not need to be recorded in real property records in order for it to be a valid and binding transfer."Jordan E. Bublick is a Miami Bankruptcy Lawyer - www.bublicklaw.com