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Investors say they want to buy new issue residential mortgage-backed securities and banks are building up their RMBS desks to cater to that demand.
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The American Securitization Forum is calling for tailor-made loan-level disclosure requirements for each type of auto asset-backed securitization in its supplemental Reg AB II comment letter that it filed Tuesday with U.S. Securities and Exchange Commission.
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Agency traders are welcoming the New York Federal Reserve's recent paper on the need to preserve the secondary market when overhauling the government-sponsored entities.
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The U.S. Securities and Exchange Commission has confirmed that securitization veteran John Ramsay, will rejoin the agency as deputy director in the division of trading and markets after a 16-year hiatus.
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The Securities and Exchange Commission could damage parts of the industry with the broad definition of a “structured finance product” it used in its plan to overhaul asset-backed securities regulation, according to an American Bar Association panel.
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Several off-the-run asset-backed securities deals have been tied up in the pipeline since the June 30 implementation of the U.S. Securities and Exchange Commission rule change to 17g-5, according to a banker involved in structuring the transactions.
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The U.S. Securities and Exchange Commission has been presented with a laundry list of concerns over its blockbuster plans to revamp Regulation AB and the asset-backed securities market.
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The U.K. task force probing problems with the country’s lending market expects to publish preliminary results as soon as October, according to a spokesman at the British Bankers’ Association.
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The whopping 189-page comment letter the American Securitization Forum submitted to the Securities and Exchange Commission on the proposed change to Reg AB does not include any comment on auto asset-backed securities because of investor and issuer squabbling.
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The Securities and Exchange Commission’s proposed new regulations for the U.S. structured finance market will severely disadvantage European and global deals, according to market officials.