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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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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
07/28/11 Salvatore P. Palazzolo Deutsche Bank AG, New York Branch
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07/28/11 Stanley A. Hirtle Advocates for Basic Legal Equality, Inc.
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07/28/11 Timothy J. Sloan Wells Fargo & Company
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07/27/11 National Foreclosure Prevention and Neighborhood Stabilization Task Force
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07/27/11 National Housing Conference
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07/27/11 Holly A. Olson Neighborhood Finance Corporation (NFC)
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07/27/11 Hugh S. Cummins, III SunTrust Banks, Inc.
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07/27/11 John C. Reed American Credit Union Mortgage Association (ACUMA)
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07/27/11 Michael A. O'Neill Carol Clarke Law
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07/27/11 Rose M. Oswald Poels Wisconsin Bankers Association (WBA)
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07/27/11 Stephen D'Antonio Morgan Stanley & Co., LLC
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07/26/11 Douglas M. Allman NASA Federal Credit Union
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07/25/11 Board of Directors, Community Mortgage Lenders of America
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07/25/11 Chris Dalton Australian Securitisation Forum (AuSF)
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07/25/11 Christopher Roe N/A
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07/25/11 Georgette Mooneyham Mortgage Bankers Association of Georgia, Inc. (MBAG)
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07/25/11 Jeffrey W. Rubin Federal Regulation of Securities Committee
Vicki O. Tucker. View Comment Email: N/A
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07/25/11 Maureen Friar National Housing Conference (NHC)
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07/25/11 Richard A. Smith Realogy Corporation
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07/25/11 Shachi Bhardwaj LoanSouth Mortgage
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07/22/11 Cantey Callaway Tull Tull Mortgage, LLC
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07/22/11 Sheldon Repp National Council of Higher Education Loan Programs, Inc. (NCHELP)
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07/21/11 Chris Dalton Australian Securitisation Forum (AuSF)
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07/21/11 Christopher L. Williston Independent Bankers Association of Texas (IBAT)
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07/21/11 Tom Hamilton Barclays Capital, Inc.
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