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ABA: The American Bankers Association
Compliance News

ABA, Groups Call on SEC to Harmonize Disclosure Regs for Mortgage Securitizations

ABA, along with three housing and finance trade groups, urged the Securities Exchange Commission to prioritize revisions to the Regulation AB II disclosure requirements, which relate to asset-backed securities. In a letter responding to a recent request for input, the groups noted that 2014 amendments to the regulation have the potential to constrain market liquidity.

The associations urged the SEC to harmonize, to the greatest extent possible, disclosures across all mortgage securitization types. They recommended that SEC begin by aligning registered deals under Reg AB II with the comprehensive disclosures currently used in private 144A transactions, a model that has proven to be acceptable to private issuers and investors alike. For more information, contact ABA’s Rod Alba.