Commercial Law Aspects Of Residential Mortgage Securitisation In Australia 1st Ed. 2019

This book evaluates key commercial law aspects of the relevant law and legislation governing residential mortgage-backed securities (RMBSs) in Australia from a legal perspective. Within the context of a "public benefit test" framework, the book seeks to critically evaluate the impact and effectiveness of current law and regulation governing RMBSs. There is a dearth of both academic and practical literature on the legal and regulatory issues surrounding RMBSs in Australia. The book aims to make a contribution to the formulation of law and public policy by suggesting a number of reforms to the current law and practice surrounding RMBSs in Australia. In part, these suggested reforms will be based on the lessons learned from the experiences of overseas jurisdictions such as Canada, the U.K, and the United States.-- Provided by publisher Front Matter ....Pages i-xxix Introduction (Pelma Rajapakse, Shanuka Senarath)....Pages 1-17 Towards Formulating a Conceptual Framework (Pelma Rajapakse, Shanuka Senarath)....Pages 19-41 Structuring and Issuance in Residential Mortgage Securitisation (Pelma Rajapakse, Shanuka Senarath)....Pages 43-67 Mortgage Origination (Pelma Rajapakse, Shanuka Senarath)....Pages 69-86 The Legal Process for Transferring Mortgagee’s Rights to the Special Purpose Vehicle (Pelma Rajapakse, Shanuka Senarath)....Pages 87-127 Law and Regulation of the Issue of Mortgage-Backed Securities (Pelma Rajapakse, Shanuka Senarath)....Pages 129-187 Insolvency Considerations Pertaining to Trustee-Issuer and Mortgage Originator (Pelma Rajapakse, Shanuka Senarath)....Pages 189-213 Assessment of Current Regulation and Practice of RMBS Programmes (Pelma Rajapakse, Shanuka Senarath)....Pages 215-268 Summary of Conclusions (Pelma Rajapakse, Shanuka Senarath)....Pages 269-280 Back Matter ....Pages 281-292