Abstract

CASTILLO MARTINEZ, Carolina del Carmen. (Some Questions About The Securitizacion Of Credits Secured By Mortgage Andthe Procedure Of Foreclosure In Spanish Law). Rev. Bol. Der. [online]. 2017, n.24, pp.140-169. ISSN 2070-8157.

ABSTRACT: In spite of its new regulation by law 5/2015, ofApril 27, to promote business financing.the securitization of mortgage loans continues to raise a number of issues evidencing poor regulation and a lack of normative which acquires significant practical relevance regarding the distribution of the active legitimacy ad causam between the issuer and the participant. The aforementioned issue reopens the debate about the need for a record of ownership of the mortgage credit to encourage foreclosure, in compliance with the requirement contained in article 149 of the Mortgage Law as drafted by Law 41/2007 of July 7.Amending Law 2/1981, of 25 March, regulating the mortgage market, linked to the fact that, through the loan assignment to the securitization fund that involves the process, in accordance with the applicable regulations Grantor ceases to be a creditor.The situation described demonstrates the lack of a coordinated regulation that allows legal operators, through the means that are reasonably available to them, a certain knowledge of the scope of the legitimation to act, which has originated a Incipient judicial current that tries to give solution to this question denying the active legitimization of the original creditor in the processes of foreclosure.

Keywords : Credit securitization; foreclosure; active legitimation ad causam; mortgage loan guaranteed; mortgage market; registration certifícate; assignment of credits.

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