Volume 2014 - Number 41
October 31, 2014
Critics Find Plenty to Stew Over in New Risk- Retention Requirements for MBS and ABS
Participants in the residential mortgage market were largely pleased with the risk-retention requirements finalized last week for certain non-agency MBS. However, the requirements, which also cover commercial MBS and other ABS, drew a wide range of criticism from others. “The short version is that the rule doesn’t require meaningful credit risk retention where it counts, and imposes significant market-shaping safe-harbor requirements where skin in the game isn’t so important,” said Adam Levitin, a professor of law at the Georgetown University Law Center. He noted...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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