I discuss some important issues to securitization of bank loans. Mostly in the US TILA Regulation Z allows a customer to nullify the loan by rescinding it within 3 years of issue.
Second, when one breaks up a loan into many pieces, in order to foreclose one must bring owners of all the pieces into the courtroom. Biforcation is the term. And a good laywer working for the borrower can get the case thrown out.
This is a big technical development for me. My web site you are reading this on is now using automated SSL certificates provided freely by LetsEncrypt.org. I’ve been aiming at integrating these services for a long time and it’s a dream come true for me.