The securitisation of mortgage loans in South African law

Abstract

The introduction of securitisation in South Africa has brought about many benefits to the banking industry. However, the position of the mortgagor has been placed under the spotlight by various court cases. This dissertation will give an overview of the securitisation process and will focus on residential mortgage-backed securities. This study will include an analysis of whether securitisation can be used as a defence by defaulting mortgagors by examining the legislative framework governing the securitisation process and various reported and unreported cases.