FDIC Safe Harbor Transition Period Needs to Be Longer so Industry Can Adjust, ASF Says
January 15, 2010
The securitization industry needs significantly more time to prepare for sweeping changes proposed by the Federal Deposit Insurance Corp. to its safe-harbor rules governing assets securitized by banks in receivership, the American Securitization Forum said in a recent comment letter. The FDIC tentatively plans to extend its existing safe harbor for investors in MBS and ABS issued...