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

SFA News

SFA Responds to FIMSAC Recommendations to Mitigate Conflicts of Interest in Credit Ratings

SFA’s response to the Fixed Income Market Structure Advisory Committee (FIMSAC) recommendation regarding ways to mitigate conflicts on interest in credit ratings focused on 1) enhanced issuer disclosure, 2) increased NRSRO disclosure, 3) bondholder ratification of issuer-selected NRSROs, and 4) our members’ general comments around potential conflicts of interest.

Industry News

PTAP/C19: Ginnie Mae’s “Last Resort” Financing Option for Mortgage Servicers

Ginnie Mae recently announced that it would create a liquidity facility of last resort, and on Monday provided further guidance to industry participants on how the Pass Through Assistance Program for COVID-19 (PTAP/C19) will operate. Ginnie Mae ‘s PTAP/C19 is the first—and to date, only—Federal liquidity facility for mortgage servicers.

Industry News

Coronavirus Pandemic Fuels Rapid Increase in Missed Mortgage Payments

As the Wall Street Journal’s Andrew Ackerman reports, about two million homeowners are skipping their monthly mortgage payments.

Industry News

Fed Opens Registration for CPFF, Releases Updated Information

The New York Fed opened the registration process for the Commercial Paper Funding Facility (CPFF) and published expanded FAQs pertaining to the facility’s operations.

Industry News

Unemployment claims double from last week to 6.6 million

In the week ending March 28, the advance figure for seasonally adjusted initial claims was 6,648,000, an increase of 3,341,000 from the previous week's revised level.

Industry News

Regulators Request LIBOR Transition Plans from Industry

Financial regulators have asked banks and insurers for their formal plans on how they plan to manage risks brought on by transitioning away from the LIBOR benchmark in 2021.

SFA News

SEC Requests Input from Investors, Other Market Participants on RMBS Asset-Level Disclosures

Late Wednesday, SEC Chairman Jay Clayton announced that the SEC is seeking feedback on whether the Commission’s 2014 ABS rules are a significant contributing factor to the absence of SEC-registered RMBS offerings.