SEC Proposes Tough New Securitization Rule That Includes Retained Interest and Loan-Level Disclosure
April 9, 2010
Sponsors of non-agency MBS and non-mortgage ABS deals would have to retain a significant risk exposure in the transaction and provide considerably more information to investors if they want to use shelf registration for their issues under a rule proposed this week by the Securities and Exchange Commission. As drafted, the SEC proposal represents a bigger challenge for the MBS and ABS market...