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Unsolicited Ratings Encouraged More in Theory than in Practice

Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data — and possibly colored by spite?

Regulation AB II: The Band-Aid's Ripped Off

While "no one's furious," the rule is cumbersome enough that it's likely to steer issuers away from the public market and into private deals that are not registered with the Securities and Exchange Commission.

ABS East 2014: Securitization Shrugs off Electronic Trading

Investors in this space are keener to talk to dealers and analysts about transactions as opposed to simply making a trade based on readily accessible and easily digestible data.

SEC to Vote on More Loan-Level Disclosure

The revisions would require asset-backed issuers to provide enhanced disclosures including information for certain asset classes about each asset in the underlying pool in a standardized, tagged format and revise the shelf offering process and eligibility criteria for asset-backed securities.

The Five Challenges Facing Private Label RMBS

Regulatory hurdles, stability of counterparties, the rep and warranties framework, exogenous variables, and technical factors all pose challenges; but GSE reform will probably have the biggest influence, according to Morningstar.

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Articles

Fitch: External Factors Biggest Threat in 2014

Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.

How Big Box Bankruptcies Would Impact CMBS

Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.

No Exception to Risk Retention for CLOs

Risk-retention rules could thin the ranks of CLO managers; the industry was hoping for a workaround, but what it got is pretty much unworkable.

Risk Retention Rules May Shrink U.S. CLO Market

The U.S. market for collateralized loan obligations would shrink by 75% if proposed risk-retention rules are implemented, according to the Loan Syndication and Trading Association.

New Trade Group, Same Old Problem?

Longstanding tensions within the American Securitization Forum (ASF) boiled over in March, when most of its board of directors resigned and formed a new trade group.

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In the news: How Ability-to-Repay Rules Could Reshape RMBS Market

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Unsolicited Ratings Encouraged More in Theory than in Practice

Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data and possibly colored by spite?

Current Issue