By William C. Hart

Title Law Associates™

P.O. Box 7137

Elkins Park, PA 19027

© 2002

Back in 1990 I wrote; in Part I of this paper, that the 1980’s saw an unprecedented growth in credit at the government level, the corporate level and consumer levels.  At that time I suggested that “the Wall Street financial entrepreneurs and financial engineers were interested in one thing only, their ability to pile more and more debt onto a particular company or project. The merchants of debt marketed all types of securities and junk bonds in packaged form. Real Estate was no exception”.

Since publication of the original paper I can inform you that the financial engineers have been alive and, until recently, well. Having learned to leverage debt during the 1980’s they have taught us how to pile more debt upon commercial real estate during the 1990’s. The rapid and unprecedented expansion of the commercial mortgage securitization process served to bifurcate, tranche, or segment a particular loan into component parts and package it for sale in the securities market. Securitization became the mainstream investment device of the 90’s. 

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Trademarks and Copyright © 2002
William C. Hart
Title Law Associates™™
Phone:
215.379.3195 (Home Office Library)
fax: 215.379.2214
e-mail: titlelaw@comcast.net or

www.titlelawannotated®.com^®

Trademarks and Copyright © 1999 (Revision 2000, 2002)
William C. Hart
Title Law Associates™
Phone: 215·379·3195
Fax : 215·379·2214
e-mail: 

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