PHOENIX -- The Securities and Exchange Commission Associate Director, Paula Dubberly announced at the ASF 2005 conference Monday that it had established an ABS pilot program, allowing issuers to privately submit deal documentation to the Commission and receive advice on issuer compliance, ahead of the March 8, Reg AB effective date. The pilot program will give issuers approximately 10 months to learn about the compliance requirements ahead of the Jan. 1, 2006 compliance deadline. In related news, participants in a general attendee poll indicated that the majority of those questioned, 42%, described their knowledge of the Reg ABS compliance requirements as being "minimally familiar."
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The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17 -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17