| Publications [#349206] of Tracy R. Lewis
Journal Articles
- Lewis, T; Schwartz, A, Unenforceable securitization contracts,
Yale Journal on Regulation, vol. 37 no. 1
(December, 2020),
pp. 164-218
(last updated on 2023/03/21)
Abstract: A "portfolio" here is a bundled set of contracts. In this Article, we address a commercially important example, where a local bank finances home purchases. The bank bundles the resultant contracts-the mortgage-backed securities (MBS)-into a portfolio, which it then sells to a firm, denoted an "originator. " The originator buys portfolios from several local banks and sells the portfolios to a large bank, which markets the portfolios to public-investment vehicles, such as trusts. "Portfolio contracts" govern each of these sales. Copyrights
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