This Paper will reintroduce, explore, and expand on the financing arrangement known as a Participation Mortgage. First, this Paper will cover the features, history, and policy purposes behind the mortgage. Second, the Paper will focus on legal mechanics and drafting considerations of Participation Mortgages, so they may later be securitized. Finally, the Paper will explore the possibility and legality of creating Participation Mortgaged Backed Securities to be sold in the secondary market.
Spencer J. Coopchik and Yildiray Yildirim,
Drafting and Securitizing Participation Mortgages: A Re-Introduction,
8 J. Bus. Entrepreneurship & L.
Available at: http://digitalcommons.pepperdine.edu/jbel/vol8/iss2/2