Systems and methods for securitized financing of assets

Details Systems and methods for securitized financing of assets Systems and methods for securitized financing of assets

2006-03-14

2010-06-08

Kyle, Charles R (Department: 3695)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

07734519

ABSTRACT:
A securitization structure for raising capital, where notes issued under the structure are backed by a plurality of real property assets. The structure includes one or more asset holders that hold a plurality of real property assets. The structure also includes one or more issuers that issue notes to noteholders, wherein the notes are supported by the real property assets including cash flows therefrom, but where the noteholders do not have the benefit of a material amount of security interests in the plurality of real property assets, wherein at least one title insurance policy exists for the benefit of noteholders with respect to one or more of the plurality of real property assets that are not subject to a security interest for the benefit of the noteholders, and wherein the noteholders have the benefit of a security interest in the equity interests of the one or more asset holders that are pledged as security for the notes.

REFERENCES:
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Pavel, Christine A., “Structures and Cash Flow,” chapter in “Asset Securitization Principles and Practice,” Executive Enterprises, Inc., New York, 1990, pp. 49-66.
Prendergast, James D., and Pearson, Keith, “How to Perfect Equity Collateral Under Article 8,” The Practical Real Estate Lawyer, Philadelphia, Nov. 2004, vol. 20, Iss. 6, pp. 33-50.
Berman, Andrew R., “‘Once a Mortgage, Always a Mortgage’—The Use (and Misuse of) Mezzanine Loans and Preferred Equity Investments,” Stanford Journal of Law, Business & Finance, Autumn 2005, vol. 11, Iss. 1, pp. 76-125.
Downes, John; Goodman, Jordan Elliott, Dictionary of Finance and Investment Terms, 1998, Barron's Financial Guides, Fifth Edition, p. 551.
Frankel, Tamar, “Securitization: Structured Financing, Financial Assets Pools, and Asset-Backed Securities,” 1991 (and 2001 Supplement), Little, Brown and Company, Sections 1.1, 7.23.5.3, 20.17.

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