Last Thursday, November 12th, SFIG and IMN welcomed more than 400 industry members to the Second Annual Private Label RMBS Reform Symposium in New York. The event, attended by investors and issuers, as well as representatives from the servicing, trustee, and data/analytics communities, provided a forum for candid conversations on industry approaches to restoring a vibrant PLS market.
The symposium followed the release of SFIG’s RMBS 3.0 Third Edition Green Papers, which included a complete representations and warranties framework, as well as a proposed transaction parties matrix incorporating the role of Deal Agent.
Throughout the day, participants heard perspectives from various industry participants on a range of topics including regulatory reform, investor perspectives, and strategies for encouraging issuer adoption of proposed best practices. It was clear that the Deal Agent role and various considerations for how that party operates within an RMBS transaction are of key importance to the industry.
SFIG thanks all participants for contributing their candid thoughts and offering further considerations to help work towards restoration of a vibrant PLS market.