The Paper Chase: Securitization, Foreclosure, and the Uncertainty of Mortgage Title

The mortgage foreclosure crisis raises legal questions as important as its economic impact. Questions that were straightforward and uncontroversial a generation ago today threaten the stability of a $13 trillion mortgage market: Who has standing to foreclose? If a foreclosure was done improperly, what is the effect? And what is the proper legal method for transferring mortgages? These questions implicate the clarity of title for property nationwide and pose a too-big-to-fail problem for the courts. The legal confusion stems from the existence of competing systems for establishing title to mortgages and transferring those rights. Historically, mortgage title was established and transferred through the public demonstration regimes of UCC Article 3 and land recordation systems. This arrangement worked satisfactorily when mortgages were rarely transferred. Mortgage finance, however, shifted to securitization, which involves repeated bulk transfers of mortgages. To facilitate securitization, deal architects developed alternative contracting regimes for mortgage title: UCC Article 9 and MERS, a private mortgage registry. These new regimes reduced the cost of securitization by dispensing with demonstrative formalities, but at the expense of reduced clarity of title, which raised the costs of mortgage enforcement. This trade-off benefitted the securitization industry at the expense of securitization investors because it became apparent only subsequently with the rise in mortgage foreclosures. The harm, however, has not been limited to securitization investors. Clouded mortgage title has significant negative externalities on the economy as a whole. This Article proposes reconciling the competing title systems through an integrated system of note registration and mortgage recordation, with compliance as a prerequisite to foreclosure. Such a system would resolve questions about standing, remove the potential cloud to real-estate title, and facilitate mortgage financing by clarifying property rights

TLAD 2010 Proceedings:8th international workshop on teaching, learning and assesment of databases (TLAD)

This is the eighth in the series of highly successful international workshops on the Teaching, Learning and Assessment of Databases (TLAD 2010), which once again is held as a workshop of BNCOD 2010 - the 27th International Information Systems Conference. TLAD 2010 is held on the 28th June at the beautiful Dudhope Castle at the Abertay University, just before BNCOD, and hopes to be just as successful as its predecessors.The teaching of databases is central to all Computing Science, Software Engineering, Information Systems and Information Technology courses, and this year, the workshop aims to continue the tradition of bringing together both database teachers and researchers, in order to share good learning, teaching and assessment practice and experience, and further the growing community amongst database academics. As well as attracting academics from the UK community, the workshop has also been successful in attracting academics from the wider international community, through serving on the programme committee, and attending and presenting papers.This year, the workshop includes an invited talk given by Richard Cooper (of the University of Glasgow) who will present a discussion and some results from the Database Disciplinary Commons which was held in the UK over the academic year. Due to the healthy number of high quality submissions this year, the workshop will also present seven peer reviewed papers, and six refereed poster papers. Of the seven presented papers, three will be presented as full papers and four as short papers. These papers and posters cover a number of themes, including: approaches to teaching databases, e.g. group centered and problem based learning; use of novel case studies, e.g. forensics and XML data; techniques and approaches for improving teaching and student learning processes; assessment techniques, e.g. peer review; methods for improving students abilities to develop database queries and develop E-R diagrams; and e-learning platforms for supporting teaching and learning

System-level key performance indicators for building performance evaluation

Quantifying building energy performance through the development and use of key performance indicators (KPIs) is an essential step in achieving energy saving goals in both new and existing buildings. Current methods used to evaluate improvements, however, are not well represented at the system-level (e.g., lighting, plug-loads, HVAC, service water heating). Instead, they are typically only either measured at the whole building level (e.g., energy use intensity) or at the equipment level (e.g., chiller efficiency coefficient of performance (COP)) with limited insights for benchmarking and diagnosing deviations in performance of aggregated equipment that delivers a specific service to a building (e.g., space heating, lighting). The increasing installation of sensors and meters in buildings makes the evaluation of building performance at the system level more feasible through improved data collection. Leveraging this opportunity, this study introduces a set of system-level KPIs, which cover four major end-use systems in buildings: lighting, MELs (Miscellaneous Electric Loads, aka plug loads), HVAC (heating, ventilation, and air-conditioning), and SWH (service water heating), and their eleven subsystems. The system KPIs are formulated in a new context to represent various types of performance, including energy use, peak demand, load shape, occupant thermal comfort and visual comfort, ventilation, and water use. This paper also presents a database of system KPIs using the EnergyPlus simulation results of 16 USDOE prototype commercial building models across four vintages and five climate zones. These system KPIs, although originally developed for office buildings, can be applied to other building types with some adjustment or extension. Potential applications of system KPIs for system performance benchmarking and diagnostics, code compliance, and measurement and verification are discussed

TLAD 2010 Proceedings:8th international workshop on teaching, learning and assesment of databases (TLAD)

This is the eighth in the series of highly successful international workshops on the Teaching, Learning and Assessment of Databases (TLAD 2010), which once again is held as a workshop of BNCOD 2010 - the 27th International Information Systems Conference. TLAD 2010 is held on the 28th June at the beautiful Dudhope Castle at the Abertay University, just before BNCOD, and hopes to be just as successful as its predecessors.The teaching of databases is central to all Computing Science, Software Engineering, Information Systems and Information Technology courses, and this year, the workshop aims to continue the tradition of bringing together both database teachers and researchers, in order to share good learning, teaching and assessment practice and experience, and further the growing community amongst database academics. As well as attracting academics from the UK community, the workshop has also been successful in attracting academics from the wider international community, through serving on the programme committee, and attending and presenting papers.This year, the workshop includes an invited talk given by Richard Cooper (of the University of Glasgow) who will present a discussion and some results from the Database Disciplinary Commons which was held in the UK over the academic year. Due to the healthy number of high quality submissions this year, the workshop will also present seven peer reviewed papers, and six refereed poster papers. Of the seven presented papers, three will be presented as full papers and four as short papers. These papers and posters cover a number of themes, including: approaches to teaching databases, e.g. group centered and problem based learning; use of novel case studies, e.g. forensics and XML data; techniques and approaches for improving teaching and student learning processes; assessment techniques, e.g. peer review; methods for improving students abilities to develop database queries and develop E-R diagrams; and e-learning platforms for supporting teaching and learning

Middleware-based Database Replication: The Gaps between Theory and Practice

The need for high availability and performance in data management systems has been fueling a long running interest in database replication from both academia and industry. However, academic groups often attack replication problems in isolation, overlooking the need for completeness in their solutions, while commercial teams take a holistic approach that often misses opportunities for fundamental innovation. This has created over time a gap between academic research and industrial practice. This paper aims to characterize the gap along three axes: performance, availability, and administration. We build on our own experience developing and deploying replication systems in commercial and academic settings, as well as on a large body of prior related work. We sift through representative examples from the last decade of open-source, academic, and commercial database replication systems and combine this material with case studies from real systems deployed at Fortune 500 customers. We propose two agendas, one for academic research and one for industrial R&D, which we believe can bridge the gap within 5-10 years. This way, we hope to both motivate and help researchers in making the theory and practice of middleware-based database replication more relevant to each other.Comment: 14 pages. Appears in Proc. ACM SIGMOD International Conference on Management of Data, Vancouver, Canada, June 200

Recommender System Using Collaborative Filtering Algorithm

With the vast amount of data that the world has nowadays, institutions are looking for more and more accurate ways of using this data. Companies like Amazon use their huge amounts of data to give recommendations for users. Based on similarities among items, systems can give predictions for a new item’s rating. Recommender systems use the user, item, and ratings information to predict how other users will like a particular item. Recommender systems are now pervasive and seek to make profit out of customers or successfully meet their needs. However, to reach this goal, systems need to parse a lot of data and collect information, sometimes from different resources, and predict how the user will like the product or item. The computation power needed is considerable. Also, companies try to avoid flooding customer mailboxes with hundreds of products each morning, thus they are looking for one email or text that will make the customer look and act. The motivation to do the project comes from my eagerness to learn website design and get a deep understanding of recommender systems. Applying machine learning dynamically is one of the goals that I set for myself and I wanted to go beyond that and verify my result. Thus, I had to use a large dataset to test the algorithm and compare each technique in terms of error rate. My experience with applying collaborative filtering helps me to understand that finding a solution is not enough, but to strive for a fast and ultimate one. In my case, testing my algorithm in a large data set required me to refine the coding strategy of the algorithm many times to speed the process. In this project, I have designed a website that uses different techniques for recommendations. User-based, Item-based, and Model-based approaches of collaborative filtering are what I have used. Every technique has its way of predicting the user rating for a new item based on existing users’ data. To evaluate each method, I used Movie Lens, an external data set of users, items, and ratings, and calculated the error rate using Mean Absolute Error Rate (MAE) and Root Mean Squared Error (RMSE). Finally, each method has its strengths and weaknesses that relate to the domain in which I am applying these methods

TLAD 2011 Proceedings:9th international workshop on teaching, learning and assesment of databases (TLAD)

This is the ninth in the series of highly successful international workshops on the Teaching, Learning and Assessment of Databases (TLAD 2011), which once again is held as a workshop of BNCOD 2011 - the 28th British National Conference on Databases. TLAD 2011 is held on the 11th July at Manchester University, just before BNCOD, and hopes to be just as successful as its predecessors.The teaching of databases is central to all Computing Science, Software Engineering, Information Systems and Information Technology courses, and this year, the workshop aims to continue the tradition of bringing together both database teachers and researchers, in order to share good learning, teaching and assessment practice and experience, and further the growing community amongst database academics. As well as attracting academics from the UK community, the workshop has also been successful in attracting academics from the wider international community, through serving on the programme committee, and attending and presenting papers.Due to the healthy number of high quality submissions this year, the workshop will present eight peer reviewed papers. Of these, six will be presented as full papers and two as short papers. These papers cover a number of themes, including: the teaching of data mining and data warehousing, databases and the cloud, and novel uses of technology in teaching and assessment. It is expected that these papers will stimulate discussion at the workshop itself and beyond. This year, the focus on providing a forum for discussion is enhanced through a panel discussion on assessment in database modules, with David Nelson (of the University of Sunderland), Al Monger (of Southampton Solent University) and Charles Boisvert (of Sheffield Hallam University) as the expert panel

TLAD 2011 Proceedings:9th international workshop on teaching, learning and assesment of databases (TLAD)

This is the ninth in the series of highly successful international workshops on the Teaching, Learning and Assessment of Databases (TLAD 2011), which once again is held as a workshop of BNCOD 2011 - the 28th British National Conference on Databases. TLAD 2011 is held on the 11th July at Manchester University, just before BNCOD, and hopes to be just as successful as its predecessors.The teaching of databases is central to all Computing Science, Software Engineering, Information Systems and Information Technology courses, and this year, the workshop aims to continue the tradition of bringing together both database teachers and researchers, in order to share good learning, teaching and assessment practice and experience, and further the growing community amongst database academics. As well as attracting academics from the UK community, the workshop has also been successful in attracting academics from the wider international community, through serving on the programme committee, and attending and presenting papers.Due to the healthy number of high quality submissions this year, the workshop will present eight peer reviewed papers. Of these, six will be presented as full papers and two as short papers. These papers cover a number of themes, including: the teaching of data mining and data warehousing, databases and the cloud, and novel uses of technology in teaching and assessment. It is expected that these papers will stimulate discussion at the workshop itself and beyond. This year, the focus on providing a forum for discussion is enhanced through a panel discussion on assessment in database modules, with David Nelson (of the University of Sunderland), Al Monger (of Southampton Solent University) and Charles Boisvert (of Sheffield Hallam University) as the expert panel

Open issues in semantic query optimization in relational DBMS

After two decades of research into Semantic Query Optimization (SQO) there is clear agreement as to the efficacy of SQO. However, although there are some experimental implementations there are still no commercial implementations. We first present a thorough analysis of research into SQO. We identify three problems which inhibit the effective use of SQO in Relational Database Management Systems(RDBMS). We then propose solutions to these problems and describe first steps towards the implementation of an effective semantic query optimizer for relational databases