Credit Risk Retention

Date

12/24/2014

Number

RIN-2590-AA43

Group

Other

CFR

12 CFR 1234

Effective Date

Mon, 02/23/2015 - 12:00

Credit Risk Retention: Proposed Rule

FOR FURTHER INFORMATION CONTACT: Patrick J. Lawler, Associate Director and Chief Economist, Patrick.Lawler@fhfa.gov, (202) 649-3190; Ronald P. Sugarman, Principal Legislative Analyst, Ron.Sugarman@fhfa.gov, (202) 649-3208; Phillip Millman, Principal Capital Markets Specialist, Phillip.Millman@fhfa.gov, (202) 649-3080; or Thomas E. Joseph, Associate General Counsel, Thomas.Joseph@fhfa.gov, (202) 649-3076; Federal Housing Finance Agency, Constitution Center, 400 7th Street SW., Washington, DC 20024. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

SUMMARY: The OCC, Board, FDIC, Commission, FHFA, and HUD (the agencies) are seeking comment on a joint proposed rule (the proposed rule, or the proposal) to revise the proposed rule the agencies published in the Federal Register on April 29, 2011, and to implement the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (15. U.S.C. 78o-11), as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 15G generally requires the securitizer of asset-backed securities to retain not less than 5 percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as "qualified residential mortgages," as such term is defined by the agencies by rule.

DATES: Comments must be received by October 30, 2013.

Public Comments

Below are a compilation of public comments made on this publication.

105 items

CSV

Date Sort ascending	First Name	Last Name	Organization	Comment
01/16/14	David	Smith	Cornerstone Healthcare Group	View Comment Email: N/A Attachment: View Attachment
01/10/14	R. Bram	Smith	The Loan Syndications and Trading Association (LSTA), the Structured Finance Industry Group (SFIG), and the Securities Industry and Financial Markets Association (SIFMA)	Richard Johns, Structured Finance Industry Group (SFIG); Christopher K… Email: N/A Attachment: View Attachment
01/08/14	Chris	Dalton	Australian Securitisation Forum	View Comment Email: N/A Attachment: View Attachment
12/18/13	Stephen L.	Clanton	American HomePatient	View Comment Email: N/A Attachment: View Attachment
12/12/13	Stephen M.	Renna	CRE Finance Council	View Comment Email: N/A Attachment: View Attachment
11/27/13	Oliver	Wyman	Oliver Wyman, Inc.	View Comment Email: N/A Attachment: View Attachment
11/12/13	Catherine T.	Dixon	Federal Regulation of Securities Committee	Martin Fingerhut, Securitization and Structured Finance Committee; Ken… Email: N/A Attachment: View Attachment
10/30/13	Janneke H.	Ratcliffe	University of North Carolina Center for Community Capital	Roberto G. Quercia; Kevin A. Park. View Comment Email: N/A Attachment: View Attachment
10/30/13	Alex J.	Pollock	American Enterprise Institute for Public Policy Research	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jamie	Dixon	Arkansas Mortgage Bankers Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jamie	Dixon	Tennessee Mortgage Bankers Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jamie A.	Crabtree	Equifax Information Services LLC	View Comment Email: N/A Attachment: View Attachment
10/30/13	Michael	Winderman	GoldenTree Asset Management, LP	View Comment Email: N/A Attachment: View Attachment
10/30/13	Joseph F.	McShea	Maryland Mortgage Bankers Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Payson F.	Swaffield	Eaton Vance Investment Management Corp.	View Comment Email: N/A Attachment: View Attachment
10/30/13	Thomas W.	Reedy	CarMax, Inc.	View Comment Email: N/A Attachment: View Attachment
10/30/13	Eric	Swalwell	N/A	Zoe Lofgren; Anna G. Eshoo; Jackie Speier; Barbara Lee; Michael M. Hon… Email: N/A Attachment: View Attachment
10/30/13	Susan	Stewart	Texas Mortgage Bankers Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Laurie	Goodman	Urban Institute Housing Finance Policy Center	View Comment Email: N/A Attachment: View Attachment
10/30/13	Bernell K.	Grier	Neighborhood Housing Services of New York City, Inc.	View Comment Email: N/A Attachment: View Attachment
10/30/13	Robert R.	Davis	American Bankers Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jeffrey P.	Bloch	Consumer Bankers Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Scott H.	Page	Eaton Vance Corp.	View Comment Email: N/A Attachment: View Attachment
10/30/13	Anne C.	Canfield	Consumer Mortgage Coalition	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jim	Croke	Chapman and Cutler LLP	Peter Manbeck; Tim Mohan, Chapman and Cutler LLP. View Comment Email: N/A Attachment: View Attachment
10/30/13	Rohit	Gupta	Genworth U.S. Mortgage Insurance	View Comment Email: N/A Attachment: View Attachment
10/30/13	Barry	Horn	Washington Mortgage Lenders Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Ronald M.	Faris	Ocwen Financial Corporation	View Comment Email: N/A Attachment: View Attachment
10/30/13	Rohit	Gupta	The Coalition of U.S. Mortgage Insurance Companies	Adolfo Marzol, Essent Guaranty, Inc. View Comment Email: N/A Attachment: View Attachment
10/30/13	John	Bray	NewStar Financial, Inc.	View Comment Email: N/A Attachment: View Attachment
10/30/13	David	Graziosi	Allison Transmission, Inc.	View Comment Email: N/A Attachment: View Attachment
10/30/13	Former Representative Barney	Frank	N/A	View Comment Email: N/A Attachment: View Attachment
10/30/13	Betty	Tamm	NeighborWorks Umpqua	View Comment Email: N/A Attachment: View Attachment
10/30/13	Barrett	Burns	VantageScore Solutions LLC	View Comment Email: N/A Attachment: View Attachment
10/30/13	Bill	Himpler	American Financial Services Association	Jim Park, Asian Real Estate Association of America; Barry Zigas, Consu… Email: N/A Attachment: View Attachment
10/30/13	Patrick	Sinks	MGIC Investment Corporation	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jonathan L.	Rosenthal	Metropolitan Life Insurance Company	View Comment Email: N/A Attachment: View Attachment
10/30/13	Dennis M.	Kelleher	Better Markets, Inc.	Stephen W. Hall. View Comment Email: N/A Attachment: View Attachment
10/30/13	E. Todd	Chamberlain	PNC Financial Services Group, Inc. (PNC)	View Comment Email: N/A Attachment: View Attachment
10/30/13	Russell	Goldsmith	Mid-Size Bank Coalition of America (MBCA), City National Bank	View Comment Email: N/A Attachment: View Attachment
10/30/13	Philip L.	Sandoval	Mortgage Bankers Association of Alabama, Inc.	View Comment Email: N/A Attachment: View Attachment
10/30/13	Matthew S.	Kang	HCR ManorCare	View Comment Email: N/A Attachment: View Attachment
10/30/13	Eileen M.	Fitzgerald	NeighborWorks America	View Comment Email: N/A Attachment: View Attachment
10/30/13	Brian W.	Good	THL Credit Advisors, LLC	View Comment Email: N/A Attachment: View Attachment
10/30/13	R. Bram	Smith	The Loan Syndications and Trading Association	View Comment Email: N/A Attachment: View Attachment
10/30/13	Bryan J.	Andres	IPFS Corporation	View Comment Email: N/A Attachment: View Attachment
10/30/13	Timothy J.	Sloan	Wells Fargo & Company	View Comment Email: N/A Attachment: View Attachment
10/30/13	Linda W.	Navarro	Oregon Bankers Association & Independent Community Banks of Oregon	View Comment Email: N/A Attachment: View Attachment
10/30/13	Richard	Johns	Structured Finance Industry Group, Inc. (SFIG)	View Comment Email: N/A Attachment: View Attachment
10/30/13	Jamie	Dixon	Mississippi Mortgage Bankers Association	View Comment Email: N/A Attachment: View Attachment