Hence, the advantage of the deed of trust is that the lender can recover the value of the collateral for the loan much more quickly, and without the expense and uncertainty of suing the borrower. Not only does a deed of trust give the trustee the power to foreclose on the property on behalf of the beneficiary should the borrower default on the loan, it also allows the trustee to sell the property to the highest bidder. The importance of this regulatory change cannot be overstated. In this regard, the SFI has introduced the deed of trust in the Brazilian housing market, wherein legal title to the property is transferred to a trustee, which holds it as security for a loan (debt) between the borrower and lender. The SFI does this through the creation of a mortgage receivable instrument (CRI) and the creation of a secondary mortgage market. Its purpose is to aid in the availability of capital going to home mortgage borrowers. The Real Estate Finance System (SFI) was created in 1997. Meyer, in International Encyclopedia of Housing and Home, 2012 Real Estate Finance System (SFI)
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