November 16, 2016 Alert - SFIG Releases RMBS 3.0 Fourth Edition Green Papers

SFIG is pleased to announce the release of the Fourth Edition Green Papers. This release substantially builds upon our growing series of Green Papers, which are aimed at restoring confidence to the private label RMBS market. (SFIG members can access the Green Papers after log in. Non-members can request a digital copy by filling out a form here.)

The papers are a product of SFIG’s RMBS 3.0 initiative and expand upon the First, Second and Third Editions, released over the past two years. Included in the Fourth Edition is an introduction to SFIG’s RMBS 3.0 TRID Compliance Review Scope.

RMBS 3.0 is a broad industry supported endeavor designed to develop proposed standards and reduce substantive differences within current market practices. The Green Papers are preliminary documents released with the aim of stimulating further debate and discussion. The initiative was launched in October 2013, and brings representatives from various industry sectors together to identify, debate and develop solutions to the issues inhibiting the return of the RMBS market.

The RMBS 3.0 Task Force includes individuals from over 50 institutional members across all industry sectors. Work-streams are co-chaired by at least one investor, one issuer, and other relevant market participants. 

RMBS 3.0 Seeks To:

  • Create standardization where possible, in a manner that reflects widely agreed upon best practices and procedures
  • Clarify differences in alternative standards in a centralized and easily comprehendible manner to improve transparency across RMBS deals
  • Develop new solutions to the challenges that impede the emergence of a sustainable, scalable and fluid post-crisis RMBS market
  • Draft or endorse model contractual provisions, or alternative “benchmark” structural approaches, where appropriate to reflect the foregoing

The release of SFIG’s Fourth Edition Green Papers as well as the expected Fifth Edition will collectively precede SFIG and IMN’s 4th Edition RMBS Symposium, December 8th at the New York Marriott Downtown. This is the premier event for learning about SFIG’s latest efforts to revitalize and strengthen the RMBS market. Each year this event features more than 300 of the private label mortgage market’s most active investors, issuers, key regulators and service providers.

SFIG encourages interested members to join the RMBS 3.0 Task Force and contribute to the ongoing dialogue surrounding the updates and new topics released in today’s Green Papers, as well as future subject areas. To learn more about RMBS 3.0, please contact Daniel.Goodwin@sfindustry.org.

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