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Regulators Seize Bank Founded by Mortgage-Backed Securities

Regulators Seize Bank Founded by Mortgage-Backed Securities

This is a discussion on Regulators Seize Bank Founded by Mortgage-Backed Securities within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Federal regulators last night seized a Texas bank founded by Lewis Ranieri, a Wall Street legend who grew rich in ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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11-09-2008, 05:51 PM

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Regulators Seize Bank Founded by Mortgage-Backed Securities ...

Federal regulators last night seized a Texas bank founded by Lewis Ranieri, a Wall Street legend who grew rich in the 1980s as the pioneering salesman of a new investment product called the bmortgage/b-backed security. b.../b

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