The Securities and Exchange Commission this week approved a final rule in a 3-2 vote that will require ABS issuers to conduct reviews of the assets contained in their securities and then disclose their findings to investors. The new rule implements...
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The Securities and Exchange Commission this week approved a final rule on the use of representations and warranties that features more flexible filing requirements than the original proposed rule stipulated, along with a one-year transition. The new disclosure rules for ABS were mandated...
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Federal regulators who are racing to draft new risk-retention rules for the MBS and ABS markets may try to look beyond protecting investors to designing a system that also stabilizes the economy. A report released by the Financial Stability Oversight Council this week notes that risk retention “may help...
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Expect the final Basel III global capital rules, in concert with a provision of the Dodd-Frank Act, to have a heavy impact on Fannie Mae and Freddie Mac – or their successor organizations – as they will need a substantial amount of private capital beyond any federal guarantee to be...
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The U.S. can gradually transition to a predominantly private mortgage finance system by scaling back Fannie Mae and Freddie Mac to make room for non-agency securitization and other financing mechanisms, according to a new report from the conservative American Enterprise Institute. At the end of this month, the Obama administration is...
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Securitization transactions by nonbank financial companies in receivership will be subject to sale principles under bankruptcy law rather than to repudiation authority until at least June 30, 2011, when regulations implementing systemic risk provisions of the Dodd-Frank finance reform law are finalized...
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An academic’s doomsday claim that millions of mortgage notes may not have been properly transferred to securitization trusts in compliance with New York trust laws doesn’t hold water and shouldn’t be taken seriously, according to industry attorneys. Investors shouldn’t be...
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Several of the top mortgage lenders that are responsible for a huge chunk of agency MBS issuance increased their market shares during 2010, a time when overall production was falling, according to a new ranking and analysis by Inside MBS & ABS. Wells Fargo remained...[Includes one data chart]
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