Non-agency jumbo mortgage-backed securities issued by Redwood Trust in 2010 and 2011 have been subject to scrutiny by the Securities and Exchange Commission in recent months. The SEC looked into Regulation AB compliance issues on the deals, largely seeking increased disclosures. The SEC’s inquiries generally related to deal participants other than Redwood. And in some cases, the SEC sought disclosures related to actions beyond the firms’ participation in non-agency MBS issuance ...
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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