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Computer implemented method for transforming bank-owned real property assets and/or bank held mortgage note receivables into a negotiable hybrid mortgage/asset-backed security.
Computer implemented method for transforming bank-owned real property assets and/or bank held mortgage note receivables into a negotiable hybrid mortgage/asset-backed security.
A method for transforming bank-owned real property assets and/or bank held mortgage note receivables, suitable for refinancing, into a negotiable hybrid mortgage/asset-backed security. The method includes providing a bank mortgage at a below-market mortgage rate for purchase of the real property or refinance by the mortgagor. The bank mortgage, having a face value, is assigned to a secondary market buyer at a market price greater than 30% of the mortgage face value. The face value minus the market price defining mortgage note equity. Using the current bond price % of the mortgage face value, a negotiable government security or Non-governmental organization security is purchased by the secondary market buyer. The bank mortgage note and government security/non-governmental organization security are securitized into a single negotiable hybrid security suitable for selling or pledging to a central bank as collateral securing funds to recycle the process.
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