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Presentation
Slideshow: Where is a default in a securitization?
(2012)
  • Symphony Music
Abstract
There is no "default" in a securitized mortgage loan. The loan is paid off ab initio and the existence of the note is fabricated from paid off balances for the convenience of the originators who didn't think through the foreclosure process.
Publication Date
June, 2012
Citation Information
Symphony Music. "Slideshow: Where is a default in a securitization?" (2012)
Available at: http://works.bepress.com/symphonymusic/10/