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Beginning on June 15, 2015, the US Securities and Exchange Commission’s (SEC) rule 15Ga-2 takes effect for new residential mortgage-backed securities (RMBS), according to Moody’s Credit Outlook Report. The rule is intended to provide transparency into the credit quality of mortgage loans underlying transactions. The rule will require issuers or underwriters of asset-backed securities (ABS) that nationally recognized statistical rating organization rate to publish the findings and conclusions of any third-party review (TPR) firms’ due-diligence reports on loan quality.
Read More »RMBS Transparency Enhanced in SEC Disclosure Rule, According to Moody’s
