The Securities and Exchange Commission (SEC) proposed a requirement that most ABS issuers file a computer program that gives effect to the flow of funds, or “waterfall,” provisions of the transaction.

The computer program would be filed on EDGAR and under  the proposal, an investor would be able to  download the source code for the waterfall computer program and run the program on the investor’s own computer.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.