National Mortgage News reports on the progress being made by the industry to update private-label securities (PLS) data standards. The initiative being taken on by SFA draws on the collaboration of market participants to create uniformity in the data points currently relevant to privately securitized mortgages. Market observers agree that the availability of adequate data standards and industry best practices will increase investor momentum in the PLS space to new levels.
SFA CEO Michael Bright in relation to the ongoing work product is quoted in the article stating, “Building governance in the industry from the industry’s perspective is going to be a key piece of pushing it along, and that governance is going to absolutely include some best practices for issuance and ongoing investor reporting.”