The American Securitization Forum has fallen into disarray as the majority of board members resigned as a result of executive director Tom Deutsch bonuses and salary, according to Bloomberg.

The ASF has been experiencing internal problems for quite some time, such as the split from the Securities Industry and Financial Markets Association in 2010.

"The Forum will now function as a completely independent organization exclusively focused on serving its members and all facets of the securitization markets, as well as the critically important task of restarting the vital flow of credit to American consumers and businesses," according to a statement from the ASF.

As a result, the future of the trade group is in question.