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Dirt Lawyers and Dirty REMICs: A Debate

Probate & Property, Volume 27, No 3 © 2013

Brooklyn Law School, Legal Studies Paper No. 361

11 Pages Posted: 29 Nov 2013 Last revised: 13 Oct 2014

David J. Reiss

Brooklyn Law School

Bradley T. Borden

Brooklyn Law School

Joshua Stein

Joshua Stein PLLC

Date Written: November 27, 2013

Abstract

In mid-2013, Professors Bradley T. Borden and David J. Reiss published an article in the American Bar Association’s PROBATE & PROPERTY journal (May/June 2013, at 13), about the disconnect between the securitization process and the mechanics of mortgage assignments. The Borden/Reiss article discussed potential legal and tax issues caused by sloppiness in mortgage assignments.

Joshua Stein responded to the Borden/Reiss article, arguing that the technicalities of mortgage assignments serve no real purpose and should be eliminated. That article appeared in the November/December 2013 issue of the same publication, at 6.

Stein’s response was accompanied by a commentary from Professors Borden and Reiss, which also appeared in the November/December 2013 issue, at 8.

Keywords: mortgage-backed securities, MBS, Real Estate Mortgage Investment Conduit, REMIC, dirt lawyers, MERS

Suggested Citation

Reiss, David J. and Borden, Bradley T. and Stein, Joshua, Dirt Lawyers and Dirty REMICs: A Debate (November 27, 2013). Probate & Property, Volume 27, No 3 © 2013; Brooklyn Law School, Legal Studies Paper No. 361. Available at SSRN: https://ssrn.com/abstract=2360629

David J. Reiss

Brooklyn Law School ( email )

250 Joralemon Street
Brooklyn, NY 11201
United States

Bradley T. Borden (Contact Author)

Brooklyn Law School ( email )

250 Joralemon Street
Brooklyn, NY 11201
United States

Joshua Stein

Joshua Stein PLLC ( email )

501 Madison Avenue
Suite 402
New York, NY 10022
United States

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