Law Commons^™

Bad Timing For Deeds In Lieu, Roger Bernhardt

Publications

This article discusses the right of redemption and the rule against clogging and why a deed in lieu that is given after the mortgage has already been executed may be enforceable notwithstanding that one given at the same time as the mortgage is not.

Hiding A Mortgage Too Well, Roger Bernhardt

Publications

This article considers the California case Garcia v. Roberts, showing that a sale and leaseback can actually be a mortgage, with the twist that if title to the property goes directly to the lender from a third party seller, rather than from the borrower, the mortgage is one of purchase money rather than refinance.

Code, Crash, And Open Source: The Outsourcing Of Financial Regulation To Risk Models And The Global Financial Crisis, Erik F. Gerding

Publications

The widespread use of computer-based risk models in the financial industry during the last two decades enabled the marketing of more complex financial products to consumers, the growth of securitization and derivatives, and the development of sophisticated risk-management strategies by financial institutions. Over this same period, regulators increasingly delegated or outsourced vast responsibility for regulating risk in both consumer finance and financial markets to these privately owned industry models. Proprietary risk models of financial institutions thus came to serve as a "new financial code" that regulated transfers of risk among consumers, financial institutions, and investors.

The spectacular failure of financial-industry …