BOCA RATON, FLA. - The subprime mortgage market has enjoyed a year of increased growth in the face of rising interest rates. But stringent new regulatory legislation threatens to undercut nearly all issuers in the sector. This is of particular concern in Massachusetts and New Jersey, said participants in the Dynamics of the Subprime Mortgage ABS Market panel at ABS East.

"In a few weeks [Massachusetts] will have a law take effect that will become, after New Jersey, the next Georgia," said Alan Krinsman, partner at Strook Strook & Lavan.

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