Major players like Wells Fargo and BlackRock need more certainty before they will commit capital to a private-label mortgage-backed securities market, said Securities Industry and Financial Markets Association managing director Christian Killian at a National Association for Business Economics conference Monday.

"They need to be able to set a long term plan," Killian said. "When you don’t know what the market is going to look like in a year or two years from now, it is hard to do that."

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