Secondary market players to discuss future RMBS issuance
According to Bloomberg, the Structured Finance Industry Group will hold a four-hour roundtable with about 35 executives in New York to reduce mistrust among secondary mortgage market participants.
The participants will attempt to answer a lingering question: When are lenders or sellers of mortgage securities on the line for loan repurchases when issues surface later on. Bloomberg reports:
“The time to have these discussions is now, and not over dinners, drinks and individual phone calls,” said Eric Kaplan, a managing director at Shellpoint Partners LLC, the lender backed by mortgage-bond pioneer Lewis Ranieri. “A lot of work has been done. The question is whether it’s enough. We don’t want a repeat of the housing crisis, where everyone got hurt.”