Friday, November 11, 2016
For all you fellow mortgage finance lovers out there, Dale A Whitman (Missouri-Emeritus) has posted Transferring Nonnegotiable Mortgage Notes (Florida A&M Law Review) to SSRN. Per Dale, the article discusses not only what is known about the legal requirements for transferring nonnegotiable notes, it also discusses at length the following additional topics:
- The history and background of the Holder in Due Course doctrine.
- How to identify whether a note is negotiable (including notes secured by FHA and VA mortgages)
- How negotiable notes (and the mortgages securing them) must be transferred
- The impact of UCC Article 9 on transfers of both negotiable and nonnegotiable notes.
These topics were (and remain) super important as we continue to study the aftermath of the housing crisis and the ways in which financial institutions used the foreclosure system. The linkage between commercial law and property law is not often well-understood, but Dale does a great job showing the connection. Great work, Dale!