While the securitization industry has faced countless adversaries over the past several years, much of the drama last month came from within.

Early in March, simmering tensions at the American Securitization Forum (ASF) finally hit the boiling point, with a number of board members resigning in a dispute over management with executive director Tom Deutsch. In a quick overview of what happened, Felipe Ossa hones in on the Structured Finance Industry Group (SFIG), a new trade group that sprung up mid-month — formed by defecting ASF members — and whether it will be able to avoid the tensions that dogged the ASF.

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