Business firms, including miners and mining companies, seek to preventloss in various ways. When their assets are real property, a mortgage mayprovide collateral or other security for their activities. As security for a debt, a mortgage is only an effective remedy when it enables the creditor, such as a bank or other lender, to declare a default, seize the title in a foreclosure action, and then use the property to satisfy the mortgagedebt. The Latin word for security was securitas, translated as sponsor. The ideaof a mortgage lien or a security is that the property itself "sponsors" therepayment of the debt incurred in a mortgage loan.
Reclaiming the Law of Suretyship,
S. Ill. U. L.J.
Available at: https://digitalcommons.wcl.american.edu/facsch_lawrev/862