Assessment of insolvency issues for the mortgage originator and trustee-issuer in securitisation programs

File Size Format
55778_1.pdf 582Kb Adobe PDF View
Title Assessment of insolvency issues for the mortgage originator and trustee-issuer in securitisation programs
Author Rajapakse, Pelma Jacinth; Copp, Richard Ian; Gardner, Jodi
Journal Name Monash University Law Review
Year Published 2008
Place of publication Australia
Publisher Monash University
Abstract There are two purposes of this article. Firstly, it examines the consequences for stakeholders, if the mortgage originator or subsequent assignee of its rights, e.g. the trustee issuer, become insolvent and considers the main legal and financial risk issues that can arise in an RMBS program in Australia. Secondly, it focuses on a qualitative assessment of the extent to which the current regulatory provisions governing the insolvency of the originator and trustee issuer either impede or facilitate the operation and growth of the RMBS market in Australia. The existing regulation for insolvency of the originator and issuer and their financial security are assessed using a “public benefit test” framework. This framework is based on the principles of social cost-benefit analysis and is used to identify an optimal RMBS legal and regulatory regime that would provide a resolution to the conflicting interests of participants in the RMBS process.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.law.monash.edu.au/about-us/publications/monlr/
Copyright Statement Copyright 2008 Monash University. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Volume 34
Issue Number 2
Page from 370
Page to 399
ISSN 0311-3140
Date Accessioned 2009-06-16
Date Available 2012-09-14T01:53:20Z
Language en_US
Faculty Griffith Business School
Subject Commercial and Contract Law
URI http://hdl.handle.net/10072/28461
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1a

Brief Record

Griffith University copyright notice