A GJ Topics article.

Abstract

The purpose of this article is to examine the mechanics of and the structuring issues in a residential mortgage securitisation program in Australia. It focuses on practical issues, such as the structure of the RMBS program; procedural aspects of the mortgage origination process; the establishment of the SPV and the transfer of the lender's rights to it; the issuance of the mortgage-backed bonds; the credit enhancement mechanisms that are available; and related operational aspects, such as the appointment of a fund manager or other ancillary service providers. Finally, the article summarises the process of structuring a RMBS program and identifies the key issues that arise throughout the process that may be addressed through further research.

Originally published in Global Jurist Topics.

Recommended Citation

Rajapakse, Pelma Jacinth (2005) "Residential Mortgage Securitisation: The Australian Perspective," Global Jurist Topics: Vol. 5 : Iss. 3, Article 1.
Available at: http://www.bepress.com/gj/topics/vol5/iss3/art1