Commercial Law Aspects of Residential Mortgage Securitisation in Australia

1. Introduction.- 2. Towards Formulating a Conceptual Framework.- 3. Structuring and Issuance in Residential Mortgage Securitisation.- 4. Mortgage Origination.- 5. The Legal Process for Transferring Mortgagee's Rights to the Special Purpose Vehicle.- 6. Law And Regulation of the Issue of Mortgage-Backed Securities.- 7. Insolvency Considerations Pertaining to Trustee Issuer and Mortgage Originator.- 8. Assessment of Current Regulation and Practice of RMBS Programs.- 9. Summary of Conclusions.

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.