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SABC’s Special Assignment focus piece on securitisation – Part 2

SABC’s Special Assignment recently ran a show all about securitisation called: Who owns your debt? Now part two has been released.

The program investigates securitisation and asks where are the original loan documents? The show investigates the supposed fire at Docufile is as yet unsubstantiated. Docufile says that they are not allowed to say what happened. Special Assignment were unable in their research to find any record of the fire.

A former bank executive also relates s that the banks have electronic copies of all loan documents. It is also pointed out that the conveyancing attorneys should have copies. As yet the banks have not produced any such documents.

Securitisation

Next the issue of securitisation special purpose vehicles names appearing on summonses suddenly is broached. Is this legal?

A case from 2007 in the Western Cape High Court may hold the answer.

Watch it on Youtube:http://www.youtube.com/watch?v=SbCxTy3cnvw