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Palgrave Macmillan

Commercial Law Aspects of Residential Mortgage Securitisation in Australia

  • Book
  • © 2019

Overview

  • Evaluates key commercial law aspects of the relevant legislation and regulation governing MBSs in Australia
  • Suggests some key areas in which the current law and regulation relating to MBSs in Australia could be reformed
  • Analyses lessons learned from the experiences of overseas jurisdictions such as Canada, U.K, and USA

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Table of contents (9 chapters)

Keywords

About this book

This book evaluates key commercial law aspects of the relevant law and legislation governing residential mortgage-backed securities (RMBSs) in Australia from a legal perspective. Within the context of a “public benefit test” framework, the book seeks to critically evaluate the impact and effectiveness of current law and regulation governing RMBSs. There is a dearth of both academic and practical literature on the legal and regulatory issues surrounding RMBSs in Australia.  The book aims to make a contribution to the formulation of law and public policy by suggesting a number of reforms to the current law and practice surrounding RMBSs in Australia.  In part, these suggested reforms will be based on the lessons learned from the experiences of overseas jurisdictions such as Canada, the U.K, and the United States. 


Reviews

“This book masterfully addresses a complex subject: the securitization of home mortgages.  The authors describe the process of securitization, how it injects liquidity into the housing market in Australia, the laws that govern securitization, and needed reforms. They do all this in language non-specialists can understand.  It is a must read for people who are curious about the structures supporting the housing market.” (Kathleen C. Engel, Research Professor of Law, Suffolk University Law School, Boston, USA and co-author of The Subprime Virus: Reckless Credit, Regulatory Failure and Next Steps)

 

Authors and Affiliations

  • Griffith University, Brisbane, Australia

    Pelma Rajapakse

  • University of Colombo, Colombo, Sri Lanka

    Shanuka Senarath

About the authors

Pelma Rajapakse is a Senior Lecturer in Business Law and Corporations Law in the Department of Accounting Finance and Economics, Griffith University, Nathan, Queensland, Australia.  Her research combines socio-legal and doctrinal analysis and qualitative methods. Her research has encompassed a range of topics such as fraud in fund management in Australia and overseas, legal aspects of residential mortgage securitisation, mortgage lending, and professional negligence.  Her articles have appeared in a number of prominent peer-reviewed law journals and the Comparative Law Yearbook of International Business (Kluwer Law International). Pelma is a member of the Law Futures Centre at Griffith University and an honorary research fellow at the Centre for International Legal Studies, Salzburg, Austria.

Shanuka Senarath is currently working as a lecturer in the Department of Economics, University of Colombo, Sri Lanka. He is also an Attorney-at-law of the Supreme Court of Sri Lanka. In 2017 Shanuka earned his PhD from Griffith University, Queensland, Australia. Shanuka’s research interest mainly lies on economic analysis of law. His PhD research and most of his publications focus on asset securitization and the global financial crisis, where he combines economic theory in order to analyze legislation pertaining to asset securitization in a global context.  He has also published articles in reputed journals on population aging and economic analysis of constitutional law prior to his PhD research.




Bibliographic Information

  • Book Title: Commercial Law Aspects of Residential Mortgage Securitisation in Australia

  • Authors: Pelma Rajapakse, Shanuka Senarath

  • DOI: https://doi.org/10.1007/978-3-030-00605-1

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2019

  • Hardcover ISBN: 978-3-030-00604-4Published: 26 April 2019

  • eBook ISBN: 978-3-030-00605-1Published: 11 April 2019

  • Edition Number: 1

  • Number of Pages: XXIX, 292

  • Number of Illustrations: 2 b/w illustrations

  • Topics: International Finance, Investments and Securities, Banking, Financial Law/Fiscal Law

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