The Simplified Mortgage and Recorded Title ('SMART') Act of 2019

Fry, William; Hockett, Robert C.

doi:10.2139/ssrn.3298870

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The Simplified Mortgage and Recorded Title ('SMART') Act of 2019

Cornell Legal Studies Research Paper No. 19-04

36 Pages Posted: 10 Dec 2018 Last revised: 16 Feb 2019

See all articles by William Fry

Robert C. Hockett

Cornell University - Law School

Date Written: December 10, 2018

Abstract

We design a digital home mortgage and title registry system, overseen by a new public sector entity, to provide clearing and settlement efficiencies in mortgage-related instruments comparable to those enabled by the Depository Trust Company (‘DTC’) in other investment securities. We believe such a system to be a prerequisite to the return of a safe, transparent, and liquid ‘private’ secondary market in mortgage loans.

Keywords: Depository Trust Company, Digital Technology, DTC, Home Loans, Mortgage Loans, Mortgages, Mortgage Market, Secondary Markets, Secondary Mortgage Markets

Suggested Citation: Suggested Citation

Fry, William and Hockett, Robert C., The Simplified Mortgage and Recorded Title ('SMART') Act of 2019 (December 10, 2018). Cornell Legal Studies Research Paper No. 19-04, Available at SSRN: https://ssrn.com/abstract=3298870 or http://dx.doi.org/10.2139/ssrn.3298870