Mortgage Banking Law

This course will explore in depth the various legal issues in the mortgage banking industry, a trillion dollar industry at the heart of the U.S. economy. The focus will be primarily on the residential mortgage segment, as that is the larger and more familiar part of the industry. The course will examine the "life" of a residential mortgage loan, including its origination between a consumer and a mortgage lender, on the one hand, and its metamorphosis into part of the international capital market, on the other.

More particularly, the course will involve analysis of the uniform note and mortgage; examination of non-conventional types of residential finance; survey of applicable federal laws and regulations (including Truth-in-Lending, Real Estate Settlement Procedures Act, Equal Credit Opportunity Act, etc.); review of agreements used in the origination and sale of residential mortgage loans; and consideration of the mechanics of securitization of mortgage loans. This will be an interdisciplinary course where students will be able to use concepts of real estate law, consumer law, commercial transactions and securities law.

Course Number: 517A