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Publication Details
Type
Proposed Rulemaking
Document Number
2013-21677
Federal Register Publish Date
09/20/2013
Federal Register Citation
Comment Open Date
09/20/2013
Comment End Date
10/30/2013
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: Proposed Rule

Contact Information

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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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

​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 people-icon

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

105 items
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Date First Name Last Name Organization Comment
10/30/13 David P. Killian Denali Capital LLC
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10/30/13 Deborah A. Imondi Rhode Island Mortgage Bankers Association
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10/30/13 Dennis M. Kelleher Better Markets, Inc.
Stephen W. Hall. View Comment Email: N/A
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10/30/13 Donald E. Morgan, III Brigade Capital Management LLC
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10/30/13 E. Todd Chamberlain PNC Financial Services Group, Inc. (PNC)
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10/30/13 Eileen M. Fitzgerald NeighborWorks America
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10/30/13 Eric Stein Center for Responsible Lending
Debbie Gruestein Bocian View Comment Email: N/A
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10/30/13 Eric Swalwell N/A
Zoe Lofgren; Anna G. Eshoo; Jackie Speier; Barbara Lee; Michael M. Hon…
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10/30/13 Former Representative Barney Frank N/A
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10/30/13 Gregory M. Ryan Reading Co-Operative Bank
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10/30/13 J. Michael Pickett Mortgage Bankers Association of Metropolitan Washington
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10/30/13 Jacqueline T. Conaway Vermont Mortgage Bankers Association
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10/30/13 Jamie Dixon Arkansas Mortgage Bankers Association
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10/30/13 Jamie Dixon Mississippi Mortgage Bankers Association
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10/30/13 Jamie Dixon Tennessee Mortgage Bankers Association
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10/30/13 Jamie A. Crabtree Equifax Information Services LLC
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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
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10/30/13 Jason Engel Experian
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10/30/13 Jeffrey D. DeBoer The Real Estate Roundtable
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10/30/13 Jeffrey P. Bloch Consumer Bankers Association
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10/30/13 Jim Croke Chapman and Cutler LLP
Peter Manbeck; Tim Mohan, Chapman and Cutler LLP. View Comment Email: N/A
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10/30/13 John Bray NewStar Financial, Inc.
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10/30/13 John McKenzie Indiana Credit Union League
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10/30/13 John W. Blenke TransUnion LLC
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10/30/13 Jonathan L. Rosenthal Metropolitan Life Insurance Company
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