Fed Expands TALF to Include Servicing Advances, Ease Burden on Some Lenders
March 26, 2009
The Federal Reserve Board late last week expanded the eligible collateral for loans extended by its Term Asset-Backed Securities Loan Facility to include mortgage servicing advances. Managed through the New York Federal Reserve Bank, TALF doles out three-year financing for investors buying newly issued, AAA-rated securities. It was originally designed for deals collateralized...