Delaware Business Law Report : Delaware Business Lawyers & Attorneys: Morris James Firm: Finance & Business Law

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The American Securitization Forum today has released a detailed study on the principles of valid mortgage loan transfers in securitization transactions. 

This project began in the wake of recent concerns expressed by commentators questioning whether securitization trusts (both private and government-sponsored) have valid legal title to the trillions of dollars of mortgage notes in those trusts.  The initial response by the securitization industry indicated that the methods for conducting these transfers were "adequate and appropriate" and "in accordance with applicable law."  The study results released today provide ample support for this position.

In a statement released to members, the American Securitization Forum stated that the study "...finds that traditional legal principles and processes, including the common law rule that “the mortgage follows the note,” are fully consistent with today’s complex holding, assignment and transfer methods for mortgage loans and those methods are legally effective for participants in the secondary mortgage market to transfer mortgage loans." 

This is good news for the securitization industry and all its participants, and hopefully the study will provide reassurance to issuers and investors alike, such that the still sluggish securitization market can continue to improve.

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Morris James is pleased to congratulate the lawyers listed below who were the most recommended by their professional peers, as determined by a Delaware Today survey of Delaware attorneys.

Gretchen S. Knight
Divorce
Family Law

Mary M. Culley
Elder Law

Keith E. Donovan
Personal Injury
(Dover Office)

Jill S. Di Sciullo
Family Law

To view the entire list of "Top Lawyers", please click here.

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We are very pleased to receive this honor from the Delaware State Chamber of Commerce," said David H. Williams, Managing Partner of Morris James LLP, "Our firm is deeply rooted in Delaware and we are committed to providing our community with top-tier legal services.”

The Marvin S. Gilman Superstars in Business Award, named for one of Delaware’s leading small business entrepreneurs, honors businesses and non-profit corporations for their outstanding achievements and model approaches to business and management. The awards are presented to companies that have been in business for at least three years, are small businesses based on number of employees, and are members of the Delaware State Chamber of Commerce. Awards of Excellence are also granted to deserving companies.

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