The Commercial Mortgage Securities Association (CMSA) today provided Committee Chairman Chris Dodd and Ranking Member Richard Shelby with a letter that urges members to ensure that any regulatory reform bill takes into account the unique nature of commercial real estate finance.  

The CMSA is supportive of risk retention, or “skin in the game,” by originators, issuers or third party investors who re-underwrite the assets prior to securitization. 

This approach, said the CMSA, enables regulators to tailor risk-retention requirements to address the unique aspects of the various classes of asset-backed securities. 

The CMSA has testified before the Senate Banking Committee on securitization and regulatory reform issues on behalf of its members and reform efforts remain a priority for the association.  

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