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Publication Details
Type
Proposed Rulemaking
Document Number
2011-8364
Federal Register Publish Date
04/29/2011
Federal Register Citation
Comment Open Date
04/29/2011
Comment End Date
06/10/2011
Comment Status
Closed
Rulemaking Details
Rulemaking

Credit Risk Retention

Date
12/24/2014
Number
RIN-2590-AA43
Group
Other
CFR
12 CFR 1234
Effective Date

Credit Risk Retention

Contact Information

FOR FURTHER INFORMATION CONTACT: ​Patrick J. Lawler, Associate Director and Chief Economist, Patrick.Lawler@fhfa.gov, (202) 414–3746; Austin Kelly, Associate Director for Housing Finance Research, Austin.Kelly@fhfa.gov, (202) 343–1336; Phillip Millman, Principal Capital Markets Specialist, Phillip.Millman@fhfa.gov, (202) 343–1507; or Thomas E. Joseph, Senior Attorney Advisor, Thomas.Joseph@fhfa.gov, (202) 414–3095; Federal Housing Finance Agency, Third Floor, 1700 G Street, NW., Washington, DC 20552. 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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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

SUMMARY: The OCC, Board, FDIC, Commission, FHFA, and HUD (the Agencies) are proposing rules 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. Section 15G generally requires the securitizer of asset-backed securities to retain not less than five 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 June 10, 2011.​
 

Public Comments people-icon

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

252 items
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Date First Name Last Name Organization Comment
07/29/13 R. Bram Smith The Loan Syndications and Trading Association
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06/13/13 Barrett Burns VantageScore
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05/02/13 Donna Sasso N/A
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04/01/13 Victoria Ivashina The Loan Syndications and Trading Association (LSTA)
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03/21/13 Center for Responsible Lending
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03/04/13 Essent Guaranty Inc.
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01/23/13 Tom Deutsch American Securitization Forum (ASF)
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11/20/12 Vince Sampson Education Finance Council (EFC)
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09/21/12 Jim Callahan Pentalpha Surveillance, LLC
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08/31/12 Margaret Sheehan Ashurst LLP
Joyce Gorman, Ashurst LLP; Citibank N.A.; Deutsche Bank AG, New York B…
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08/31/12 Margaret Sheehan Ashurst LLP
Joyce Gorman, Ashurst LLP; Citibank, N.A.; Deutsche Bank AG, New York…
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08/29/12 Martin Eakes Center for Responsible Lending
Antonio Gonzalez, William C. Velasquez Institute.; Lisa Hasegawa, Nati…
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04/23/12 Bianca A. Russo J.P. Morgan
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12/19/11 Securities and Exchange Commission (SEC)
Federal Reserve System (FRB); Federal Housing Finance Agency (FHFA); F…
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09/16/11 Mike Johanns N/A
David Vitter. View Comment Email: N/A
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09/08/11 Steve Cohen N/A
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08/23/11 Robert H. Rowe Rowe Realty Co., Inc.
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08/17/11 Skip Duemeland, MBA Duemelands Commerical Real Estate
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08/12/11 Prudential Mortgage Capital Company
Federal Housing Finance Agency. View Comment Email: N/A
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08/09/11 Fair, Isaacs Company (FICO)
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08/07/11 Adam Rust Community Reinvestment Association of North Carolina
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08/07/11 Curt S. Culver Mortgage Guaranty Insurance Corporation (MGIC)
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08/04/11 Gus Sauter Vanguard
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08/02/11 Spencer Bachus United States House of Representatives, Committee on Financial Services
Scott Garrett. View Comment Email: N/A
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08/01/11 American Land Title Association
American Securitization Forum; Building Owners and Managers Associatio…
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