I attended a CREFC mini-conference in New York this week titled “2010 Market Initiatives: Overview and Updates.” The half-day session provided an update on financial regulatory reform and CREFC’s efforts to improve transparency outside SEC directives by creating industry consensus. Some of the results are good, some are not good.
I never realized winning a World Series was so exciting and exhausting. I came close to living in cities where the home team won the Fall Classic (San Francisco 2002, Boston 1986) but this was the first time my home team actually got it done. Every series (Atlanta, Philadelphia, and Texas) was a thrill and […]
For the first time in years, CREFC has proposed an increase in data disclosure by proposing a new report, the Loan Modification Report, to be effective Dec. 1, 2010. It isn’t perfect, but it is progress. This report is designed for Special Servicers to use when they modify a loan. CMBS Investors have demanded this […]
Fighter jets and race cars — what could be better?
I’m talking about the Backshop .NET 3.5 release, Regulation AB, two years of blogging, The A Yacht and summer family trips.
I helped draft letters from CREFC, MBA and MISMO to the SEC commenting on the proposed Regulation AB changes. The letters were filed Aug. 2. While all of them supported the concept of transparency, none of them proposed a data list to actually achieve transparency. So I also wrote my own letter.
With great fanfare today, President Obama signed the financial reform bill into law. Many times over the past several months, I thought this legislation would die, but this is a big, important deal. And now the law is clear: Transparency is required for securitized products. The big question is whether the SEC enacts rules and […]
I attended the Commercial Real Estate Finance Council’s Future of Commercial Real Estate Finance conference in New York City June 14-16. This year’s conference, formerly held by CMSA, was different in that its forum structure provided sessions for six different groups: securities and loan investors, issuers, servicers, portfolio lenders, investment-grade bondholders and multifamily lenders. The […]
I am just returning from New York City where I attended MBA’s Commercial/Multifamily Servicing and Technology Conference 2010. Most of the major master, special and primary servicers attended. The proposed SEC changes to Regulation AB were discussed at almost every panel. XML acceptance A well-attended special session focused on the proposed new regulations and the MBA […]
In addition to the rating agency rules that go into effect on June 2, the SEC has asked for public comment on extensive changes to SEC securitization rules, known as Regulation AB.
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