Skip to main content
Publication Details
Type
Proposed Rulemaking
Document Number
2011-8364
Federal Register Publish Date
04/29/2011
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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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
Date Sort ascending First Name Last Name Organization Comment
David H. Katkov PMI Mortgage Insurance Company
View Comment Email: N/A
Attachment: View Attachment
David Certner AARP
View Comment Email: N/A
Attachment: View Attachment
David L. Ledford National Association of Home Builders (NAHB)
View Comment Email: N/A
Attachment: View Attachment
Mark R. Scadina Fair Isaac Corporation (FICO)
View Comment Email: N/A
Attachment: View Attachment
Ron Phipps National Association of Realtors
View Comment Email: N/A
Attachment: View Attachment
David Hirschmann U.S. Chamber of Commerce Center for Capital Markets Competitiveness
View Comment Email: N/A
Attachment: View Attachment
Tom Deutsch Amerian Securitization Forum (ASF)
View Comment Email: N/A
Attachment: View Attachment
Ed Jacob Neighborhood Housing Services of Chicago, Inc. (NHS)
View Comment Email: N/A
Attachment: View Attachment
Greg Stoeckle Invesco Senior Secured Management, Inc.
View Comment Email: N/A
Attachment: View Attachment
Anne C. Canfield Consumer Mortgage Coalition (CMC)
View Comment Email: N/A
Attachment: View Attachment
Debe Mahoney NeighborWorks Anchorage
View Comment Email: N/A
Attachment: View Attachment
Scott Lynch National Lumber and Building Material Dealers Association (NLBMDA)
View Comment Email: N/A
Attachment: View Attachment
T. K. Jones Colorado Mortgage Lenders Association (CMLA)
View Comment Email: N/A
Attachment: View Attachment
Max Cook Missouri Bankers Association (MBA)
View Comment Email: N/A
Attachment: View Attachment
Robert R. Davis American Bankers Association (ABA)
View Comment Email: N/A
Attachment: View Attachment
Steven Alan Bennett United Services Automobile Association (USAA)
View Comment Email: N/A
Attachment: View Attachment
Chip Halbach Minnesota Housing Partnership (MHP)
View Comment Email: N/A
Attachment: View Attachment
Moises Loza Housing Assistance Council (HAC)
View Comment Email: N/A
Attachment: View Attachment
Jaycee Winn Northwest Credit Union Association
View Comment Email: N/A
Attachment: View Attachment
Steve Wagner Experian North America
View Comment Email: N/A
Attachment: View Attachment
Raymond Schmidt Select Milwaukee, Inc.
View Comment Email: N/A
Attachment: View Attachment
Saiyid Naqvi PNC Financial Services Group, Inc.
View Comment Email: N/A
Attachment: View Attachment
Ronald L. Phillips Coastal Enterprises, Inc. (CEI)
View Comment Email: N/A
Attachment: View Attachment
Bethany Sanchez Metropolitan Milwaukee Fair Housing Council
View Comment Email: N/A
Attachment: View Attachment
California Reinvestment Coalition (CRC)
Aspera Housing Inc; California Rural Legal Assistance; Consumer Action…
Email: N/A
Attachment: View Attachment