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

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SFA Opens Formal Dialogue With the PBOC and Chinese Regulators on How to Ensure a Safe and Sound Securitization Market

SFA CEO Michael Bright met with the People’s Bank of China (PBOC) during a recent visit to Beijing. Following this meeting, the PBOC reached out to SFA for additional context on a variety of securitization-related questions.

Structured Finance Association Announces Elen Callahan as Head of Research Group

SFA today announced Elen Callahan as Head of Research. In her new role, Ms. Callahan will work closely with SFA leadership to develop and implement a research strategy plan to further the mission and goals of the organization.

Congratulations to our 2020 Reggie Imamura Award Recipients

SFA is pleased to announce Howard Kaplan and Valerie Kay as the recipients of the 2020 Reggie Imamura Awards for Outstanding Contribution to the Structured Finance Industry.

How the Supreme Court’s decision on the CFPB could impact the FHFA

As the Supreme Court agreed to rule on the Consumer Protection Financial Bureau’s (CFPB) “for cause” provision, which requires the President to provide evidence of poor performance before firing a CFPB director, experts debate whether the ruling will have impact on the FHFA.

Trump’s Department of Justice Asks for Supreme Court Ruling on GSE Net Worth Sweep

Earlier this year, an appeals court ruled the government’s “net worth sweep,” or the FHFA’s practice of claiming all GSE profits, to be unconstitutional. Despite this decision, the Department of Justice has asked the Supreme Court to hear the case, arguing that the Court of Appeals “erred” in its decision.

SOFR Takes Next Step in Libor Replacement

The New York Fed and the Treasury Department have proposed publishing compounded SOFR averages that would create benchmarks at 30, 90, and 180 days. Comments on these proposed plans are due December 4th.

Recap of 2019 Residential Mortgage Finance Symposium

Nearly six hundred structured finance market participants attended SFA’s annual Residential Mortgage Finance Symposium in New York City on November 4-5. The program included keynote speakers such as Federal Housing Finance Agency (FHFA) Director Mark Calabria, Securities and Exchange Commission Commissioner (SEC) Hester Peirce and recently retired Congressman Sean Duffy (R-WI).

Calabria Says GSEs Need to Adjust Practices in Order to Leave Conservatorship

Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), made it clear last Thursday that the government-sponsored enterprises (GSEs) need to take a look at some of their continued practices in order for the FHFA to feel comfortable releasing them from conservatorship.

Federal Reserve Cuts Rates for the Third Time

On Wednesday, October 30th, the Federal Reserve (Fed) cut interest rates and lowered the federal-funds rate to a range between 1.5% and 1.75%. This marks the third time since July that the Federal Reserve has lowered their benchmark amid concerns of a slowing economy.

Questions Arise Regarding Libor Transition as Turmoil Increases in Short-Term Money Markets

This October, issuance of the Secured Overnight Finance Rate (SOFR), Libor’s planned replacement, dropped to $24.5 billion compared to August’s $56.1 billion total issuance.