Late last month, a Manhattan district court judge denied a plaintiff investor's motion to hire experts to perform statistical sampling analysis in a case involving legacy MBS.
Compliance experts are warning warehouse lenders holding eNotes of the risks they face from certain ambiguities between the Uniform Commercial Code and the Uniform Electronic Transactions Act.
Noting that not a single SEC-registered non-agency MBS has been issued since disclosure requirements were tightened in 2014, the regulator is planning to revisit the standards.
New York has set a six-year statute of limitation to bring charges under the Martin Act. The deadline issue has been a bone of contention in a court case between the state attorney general and Credit Suisse.
Presidential candidate Elizabeth Warren has flagged concerns about the issuer-pays model used by credit rating agencies for securitized products. She said the SEC hasn’t done enough to address the conflicts of interest tied to the model.
Redwood has suggested a number of changes that could boost issuance of non-agency MBS. The REIT wants reforms regarding risk retention and disclosures for non-agency MBS.
A new regulation set by the European Union for MBS and ABS issuance took effect at the start of the year. Though the rules don’t directly apply to U.S.-based deals, issuers here might have to comply if they want European investors to buy into their bonds.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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