The Problem of Foreclosure Titles In NSP Acquisitions. Why The Title of the Foreclosure Sale Buyer Is Often Defective How Can We Deal With the Problem?. Securitization Flow Chart and Structure. Transfer of Promissory Note. Negotiable instrument under Article 3 of the UCC Transferred by:
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Why The Title of the Foreclosure Sale Buyer Is Often Defective
How Can We Deal With the Problem?
A-Transfer: Consumer to Broker
B-Transfer: Broker to Warehouse Lender
C-Transfer: Warehouse Lender to SIV
D-Transfer: SIV to the Depositor or Sponsor
E-Transfer: Depositor or Sponsor to Trust
A. Consumer must sign and deliver to Broker
B.Broker must assign and deliver to the Warehouse Lender
C. Warehouse Lender must assign and deliver to the SIV
D.SIV must assign and deliver to the Depositor
E.Depositor must assign and deliver to the Trust
And all these assignments must be recorded!
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