ATR Assignee Liability Will Keep Investors From Non-Agency MBS
October 7, 2013
The assignee liability inherent in the Dodd-Frank Act and the CFPBs ability-to-repay rule will keep institutional investors away from the non-agency mortgage-backed securities market, resulting in less credit availability for mortgages that fall outside the ATRs qualified mortgage standard, John Gidman, president of the Association of Institutional Investors, told the Senate Banking, Housing and Urban Affairs Committee last week. The Dodd-Frank Act and the CFPBs subsequent regulations create a path for a defaulting...