Mortgage securitisation explained
Moore, T.
Mortgage securitisation explained - 1988 - Law Society`s Gazette 85(26) 6 July 1988, 35-36(2) .
In residential transactions, a solicitor may receive a letter which informs him that the mortgage and any associated life policies have been assigned to a third party and sub-charged to yet another third party. The solicitor is notified that the documents should not be held to the order of an unknown bank for whom the lender is acting as administrative agent. This article explains what this means and why it is done.
Mortgage securitisation explained - 1988 - Law Society`s Gazette 85(26) 6 July 1988, 35-36(2) .
In residential transactions, a solicitor may receive a letter which informs him that the mortgage and any associated life policies have been assigned to a third party and sub-charged to yet another third party. The solicitor is notified that the documents should not be held to the order of an unknown bank for whom the lender is acting as administrative agent. This article explains what this means and why it is done.