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Articles 1 - 2 of 2
Full-Text Articles in Law
Fannie Mae/Freddie Mac Uniform Mortgage Instruments: The Forgotten Benefit To Homeowners, Julia Patterson Forrester Rogers
Fannie Mae/Freddie Mac Uniform Mortgage Instruments: The Forgotten Benefit To Homeowners, Julia Patterson Forrester Rogers
Faculty Journal Articles and Book Chapters
In recent years economists and lawmakers have debated the public costs and benefits of the two housing government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. Some critics of the GSEs have even proposed making the GSEs fully private entities. Some parties involved in the debate have concluded that the costs of the GSEs outweigh their benefits, while others assert the converse. In terms of benefits, both sides consider the GS Es' contributions to lowering interest rates and encouraging affordable housing. Forgotten, however, is a difficult to quantify but important benefit that the GSEs create for homeowners -- the uniform mortgage …
Still Crazy After All These Years: The Absolute Assignment Of Rents In Mortgage Loan Transactions, Julia Patterson Forrester Rogers
Still Crazy After All These Years: The Absolute Assignment Of Rents In Mortgage Loan Transactions, Julia Patterson Forrester Rogers
Faculty Journal Articles and Book Chapters
This Article explores the problems caused by the absolute assignment of rents in mortgage loan transactions, which have continued for more than a century, and discusses possible solutions. Rents are a significant part of the security for loans secured by income-producing properties such as office buildings, shopping centers, and apartments. Under present law in many states, the absolute assignment of rents is the only means by which lenders can create an effective security interest in the rents of mortgaged property. An absolute assignment of rents purports to transfer title to rents to the mortgage lender, although in substance it creates …