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U.S. SEC considers relaxing post-crisis structured mortgage product rules
Source: Reuters
BUSINESS NEWS OCTOBER 30, 2019 / 5:40 PM / UPDATED AN HOUR AGO
U.S. SEC considers relaxing post-crisis structured mortgage product rules
Katanga Johnson
3 MIN READ
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Wednesday said it was seeking feedback on whether disclosure rules were discouraging firms from issuing SEC-registered residential mortgage-backed securities (RMBS) as the Trump administration seeks to overhaul the U.S. housing finance market.
The move, which follows five years of limited activity in the SEC-registered RMBS market, could result in the SEC loosening disclosure requirements introduced in the wake of the 2007-2009 subprime mortgage crisis.
SEC Chairman Jay Clayton said that he had asked agency officials to review SEC disclosure requirements for RMBS introduced in 2014 in a bid to revitalize offerings for these products and help boost capital formation in the housing market.
With the future privatization of Frannie Mae and Freddie Mac, the RMBS market will likely shrink and decrease funding available for home loans without changes.
-snip-
U.S. SEC considers relaxing post-crisis structured mortgage product rules
Katanga Johnson
3 MIN READ
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Wednesday said it was seeking feedback on whether disclosure rules were discouraging firms from issuing SEC-registered residential mortgage-backed securities (RMBS) as the Trump administration seeks to overhaul the U.S. housing finance market.
The move, which follows five years of limited activity in the SEC-registered RMBS market, could result in the SEC loosening disclosure requirements introduced in the wake of the 2007-2009 subprime mortgage crisis.
SEC Chairman Jay Clayton said that he had asked agency officials to review SEC disclosure requirements for RMBS introduced in 2014 in a bid to revitalize offerings for these products and help boost capital formation in the housing market.
With the future privatization of Frannie Mae and Freddie Mac, the RMBS market will likely shrink and decrease funding available for home loans without changes.
-snip-
Read more: https://www.reuters.com/article/us-usa-sec-abs/u-s-sec-considers-relaxing-post-crisis-structured-mortgage-product-rules-idUSKBN1X92MQ
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