Members of Media:
WASHINGTON, D.C. – August 3, 2011 – (RealEstateRama) — The Mortgage Bankers Association (MBA), along with 16 other national real estate and financial services organizations, submitted to federal regulators a joint comment letter in response to the commercial and multifamily real estate elements of the proposed rule on credit risk retention (Proposed Rule).
The Proposed Rule seeks to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934, as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).
The joint letter underscores the industry’s common interest in advancing public policy objectives that ensure a liquid, credible, safe and sound securitization market, while supporting the efficient flow of capital for commercial and multifamily real estate. The joint letter also provides recommendations on topics important to the industry, including risk retention structures that consider market dynamism and concerns raised by the proposed premium capture cash reserve account.
To view the comment letter, please click here.