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.

Issuers and investors in the securities market are divided on what exactly should be done with the qualified mortgage “patch.”

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.