Hirano has become a kind of guru on property securitization, consulted by companies contemplating similar moves.

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In the process of loan securitization the mortgage, or deed to property backing up a loan, is usually separated from the note, or obligation of the borrower to pay.

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In the world of commercial property investment, the wind has blown through the newly rehabilitated house of securitization, leaving it shaken once again but not flattened.

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