Articles Tagged with ''U.S. Securities and Exchange Commission''

No One Said Re-Creating Securitization Standards Would Be Easy

The recently released Mortgage Banker’s Association report, “Anatomy of Risk Management Practices in the Mortgage Industry,” is the latest sign that the industry is connecting some of the dots between what has been done already and what still needs to be done for a sustainable investor base to return in earnest.
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It’s the Mortgage, Stupid

I don’t know about you, but I found the announcement, last week, that the Federal Deposit Insurance Corp. (FDIC) had approved a notice of proposed rulemaking (NPR) regarding safe harbor protection for bank-issued ABS, really depressing.
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Monday Morning Cup of Coffee

A look at the stories across HousingWire’s desk during the holiday break…with more coverage to come on bigger issues: All eyes are on the GSEs as the government will soon pull money out of the secondary markets and information on new, more taxpayer-friendly executive pay packages becomes available.
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SIFMA Contests Cost of SEC Audit Estimations

A rule proposed by the Securities and Exchange Commission (SEC) that may enforce transparency among investment advisers may soon have those advisers paying for costly annual examinations of client assets.  However, the Securities Industry and Financial Markets Association (SIFMA), a trade body representing the capital markets, says the eight grand cost estimation put forth by the SEC will more likely run into the hundreds of thousands, if not millions, of dollars.
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Credit Suisse Veteran Joins Amherst Securities

Jim Regan joins Austin, Texas-based Amherst Securities Group as head of asset-backed securities (ABS) trading. Regan joins the residential mortgage-backed securities broker-dealer after most recently serving as the head of ABS trading at Cohen and Company. Prior to that, he was head of structured trading at ABN AMRO and as a senior trader on the ABS desk at Credit Suisse and as a senior ABS trader at Prudential Securities.
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Guaranty Bank Takes $1.45bn Impairment from MBS Write-Downs

Guaranty Bank, subsidiary of Guaranty Financial Group [stock GFG][/stock], is in discussions with regulators after recently taking a $1.45bn impairment charge from write-downs on non-agency mortgage-backed securities (MBS). Guaranty wrote down the non-agency MBS to an estimated fair value in an amended thrift financial report. The report also included an adjustment to write off goodwill in the amount of $106.6m.
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SEC Gets Tough on 'Naked' Short Sales

The Securities and Exchange Commission (SEC) on Monday made permanent a rule against so-called "naked" short sales in the securities market and detailed some short sale reporting initiatives it said will increase transparency of the practice. In a "naked" short sale, the investor short sells shares it has yet to borrow. The practice, although blamed for pushing down stock prices through speculation alone, was permitted as long as no legal requirement forced short sellers to borrow the shares before selling them short.
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Ratings Agencies Face Call for More Regulation

Proposed regulations for credit rating agencies would promote transparency, resolve conflicts of interest and empower the Securities and Exchange Commission (SEC) to better monitor the tools investors use to evaluate financial products, according to legislation the Obama Administration presented to Congress Tuesday.
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