Why “Blank Name” Matters and Trustee Obligations

On the blog, The Big Picture, analyst Josh Rosner at independent research firm Graham-Fisher in New York discusses the significance of assigning mortgage-secured promissory notes in "blank" name, and the potential liabilities that arise for the trustees of the mortgage-backed trusts that are supposed to have custody of these promissory notes.

He notes that "potential paperwork errors on some of the $1.34 trillion of securitized home mortgages may give investors an opening to challenge the legality of deals, threatening to unnerve financial markets."

For more, see Why “Blank Name” Matters and Trustee Obligations.

Thanks to Mike Dillon at GetDShirtz.com for the heads-up on the story.