Displayed below are all ASF-related news items. For issue specific news items, please use our issues pages.
On May 16, ASF submitted an interpretive request to the Commodity Futures Trading Commission’s (“CFTC”) Division of Clearing and Risk (“DCR”) seeking an explicit exemption for securitization swaps from clearing requirements under changes mandated by Title VII of the Dodd-Frank Act.
On May 14, ASF’s Executive Director Tom Deutsch participated in the Securities and Exchange Commission’s (“SEC”) Credit Ratings Roundtable (the “Roundtable”) in Washington, D.C. on the “Rule 17g-5 Program (Unsolicited Ratings)” panel.
On May 13, ASF staff and members met with representatives from the Commodity Futures Trading Commission’s (“CFTC”) Division of Clearing and Risk to seek an explicit exemption for securitization swaps from clearing requirements under changes mandated by Title VII of the Dodd-Frank Act.
ASF has released a list of the key areas around which we plan to continue to focus our advocacy efforts over the coming year(s).
On May 10, the Office of the Comptroller of the Currency (“OCC”) issued formal interpretive guidance, in the form of a Banking Bulletin described as a “Clarification of the Treatment of Certain Sovereign and Securitization Positions,” regarding regulatory capital relief for certain ABS under parameter W in the simplified supervisory formula approach (“SSFA”) under the Market Risk Capital Rule.
On April 30, the Federal Housing Finance Agency (“FHFA”) issued a progress report on the steps being taken to establish a common securitization infrastructure for RMBS.
On April 30, the City Council of North Las Vegas, NV held a special meeting to consider a proposal submitted by Mortgage Resolution Partners (MRP) to implement a program to use eminent domain to seize and restructure mortgage loans.
ASF and 1010data have released the mid-month update to the ASF Market Review March 2013 Non-Agency Report. The ASF Market Review reports provide ongoing surveillance of key metrics affecting the securitization industry today.
On April 23, as part of our ongoing White Paper Series, we have released “ASF Policy Proposals to Increase Private Capital in the U.S. Housing Finance System.”
On April 18, ASF, along with several other industry groups, jointly submitted a letter to the City Councils of Richmond, CA and North Las Vegas, NV urging them to oppose entering into agreements with Mortgage Resolution Partners (“MRP”) to implement a program to use eminent domain to seize and restructure mortgage loans.
ASF and 1010data have released the ASF Market Review March 2013 Non-Agency Report. The Non-Agency Report is part of the ASF Market Review series of targeted statistical reports, which provide ongoing surveillance of key metrics affecting the securitization industry.
On April 11, ASF launched a cutting edge redesign of the ASF Weekly Report to complement ASF’s website, provide members with seamless access to ASF’s extensive online resources library, and increase opportunities for members to share ASF stories with their social networks.
On April 3, ASF staff participated in a meeting of the Financial Stability Board’s (“FSB”) Workstream on Other Shadow Banking Entities at the Federal Reserve Bank of New York, specifically concerning issues related to securitization and the funding of financial entities.
On March 25, ASF submitted a letter to the Senate and House Committees on the Judiciary opposing S. 114, the “Fairness for Struggling Students Act,” and H.R. 532, the “Private Student Loan Bankruptcy Fairness Act.”
On March 20, the New Hampshire State House of
Representatives approved by a voice vote an amended version of HB 339-FN,
originally the "Consumer Collection Practices Act."
On March 19, Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco testified at the House Committee on Financial Services (HFSC) hearing in Washington, D.C., entitled "Sustainable Housing Finance: An Update from the Federal Housing Finance Agency on the GSE Conservatorships."
On March 14, ASF submitted a detailed comment letter to the Basel Committee on Banking Supervision (“BCBS”) in response to their December 18, 2012 consultative document entitled, “Revisions to the Basel Securitisation Framework.”
On February 28, ASF submitted written testimony to the New York State (“NYS”) Senate in advance of a hearing of the NYS Senate’s Standing Committee on Banks entitled, “Release of Remaining Superstorm Sandy Insurance Funds Currently Held by Banks and Mortgages Servicers to Affected Homeowners.”
On February 15, ASF submitted a letter to the Commodity Futures Trading Commission (CFTC) that includes a list of compliance issues that market participants would face if a particular securitization did not fit within the relief previously provided by the CFTC, and instead was considered to be a commodity pool.
On February 14, ASF submitted a letter to each member of the New York State (“NYS”) Assembly Transportation Committee opposing Assembly Bill 03649, the “Vehicle Lienholder Accountability Act,” which was referred to the Committee for consideration on January 28, 2013.
ASF and 1010data have released the ASF Market Review January 2013 Non-Agency Report.
The U.S. Department of the Treasury has now published the remarks of
Michael Stegman, Counselor to the Secretary of the Treasury for Housing
Finance Policy, from his January 29, 2013 featured address at ASF 2013
in Las Vegas, NV.
On February 13, ASF members and staff held several meetings with key
Members and staff of the Senate Committee on Banking, Housing and Urban
Affairs (SBC) and House Committee on Financial Services (HFSC).
On February 12, several ASF staff and members met with representatives from the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Board of Governors of the Federal Reserve System (FRB and collectively with the FDIC and the OCC, the U.S. Bank Regulators) in Washington, D.C. to discuss issues relating to the regulators’ proposed rules to implement the Basel III capital requirements, as well as the liquidity coverage ratio (LCR).
On February 6, ASF Executive Director Tom Deutsch delivered a presentation in New Orleans, LA to the Council of Federal Home Loan Banks (FHLB) regarding securitization markets, particularly RMBS. Executive Director Deutsch’s presentation discussed, among other things, the state of U.S. and global structured finance markets, current challenges to private-label RMBS revival, and the FHFA common securitization platform.