News

Read the latest articles and press releases about securitization and structured finance.

Filter

SFA Submits Comments to Treasury and IRS on LIBOR Transition

On November 25, SFA submitted comments to the IRS and Treasury regarding their proposed Guidance on the Transition from Interbank Offered Rates to Other Reference Rates. The proposal provides guidance on the tax consequences of the transition to the use of reference rates other than interbank offered rates (IBORs) in debt instruments and non-debt contracts.

Inaugural SFA ESG Symposium Fosters Crucial Dialogue

On, December 5, SFA welcomed close to 200 participants, including investors, issuers and other key industry members, to a daylong roundtable focused on facilitating the application of Environmental, Social, and Corporate Governance (ESG) principles to the structured finance market.

SFA Roundtable Held on November 5th

On Tuesday November 5th, SFA convened a members-only QM Roundtable to discuss the future of the mortgage market given the pending expiration of the GSE's QM Patch.

Updated TRID Compliance Review Scope Published

The third version of the Compliance Review Scope—formerly known as the SFIG RMBS 3.0 TRID Compliance Review Scope, now known as the SFA TRID Compliance Review Scope (“TRID Grid 3.0”)—was published on December 5, 2019.

Valid-When-Made Doctrine Discussed in Congressional Hearings

This week the House Financial Services Committee and Senate Banking Committees held oversight hearings with Prudential Regulators. Perhaps the most contentious topic in the hearings was the FDIC’s and OOC’s recent proposed regulation in response to the valid-when-made doctrine and the Madden decisions.

LendingClub Chief Capital Officer Valerie Kay featured in Business Insider

Recently, Business Insider featured Valerie Kay, Chief Capital Officer of LendingClub, for her role in growing the platform from $33 million in loan originations in 2009 to $10.9 billion in 2018.

Treasury Secretary States Libor Transition May Need Help From Congress

At the House Financial Services Committee hearing on Thursday, December 5, Treasury Secretary Steve Mnuchin told lawmakers that the Treasury may need legislative help from Congress in ushering through the transition to the new interest rate benchmark.

U.S. Regulators Clash on Use of Derivative in Investment Products

Last week, the Securities and Exchange Commission (SEC) proposed an updated framework covering derivatives which are widely used by portfolio managers to run investment funds more efficiently. Since then, clear divisions have emerged among top US financial regulators over the proposed rules with additional rules covering leveraged exchange-traded funds (ETFs), prompting lively debates among regulators.

FHFA Increases Conforming Loan Limits for Fannie, Freddie in 2020

On November 26, the Federal Housing Finance Agency (FHFA) announced that it would be increasing the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for the fourth consecutive year.

Libor Transition Causes Stress for CME Eurodollar Market

Eurodollar futures, where nearly $3 trillion changes hands every day, are preparing for the end of Libor – the biggest shake-up they have had since they were introduced on the Chicago Mercantile Exchange (CME) in 1981.