SFIG Announces 2017 Agenda for RMBS 3.0

SFIG launched their 2017 RMBS 3.0 agenda at its RMBS Symposium on December 8th. The coming year will see SFIG's RMBS 3.0 Task Force tackle several significant issues, including: Sunsets for certain Representations and Warrantys, defining Materiality for contract Breaches, pursuing and enforcing Breaches, Arbitration v Litigation for dispute resolution, and Settlements.

The Symposium welcomed almost 200 industry participants, including investors and issuers, as well as rating agency, servicing, trustee, and data analytic representatives. Jim Parrott, owner of Falling Creek Advisors and Senior Fellow at the Urban Institute, was the keynote speaker. Mr. Parrott’s address focused on how to wake the private-label securities market from its slumber. In his speech, Mr. Parrott lauded SFIG's ongoing efforts led by its RMBS 3.0 Task Force. He urged SFIG to continue its important work developing industry standards and collaborating with other industry organizations and policymakers to adopt, implement, and enforce those standards. To view his speech please click here.

The symposium, convened in a unique, hands-on, roundtable style which provided in-depth discussion of the various RMBS 3.0 initiatives, followed the release of SFIG’s RMBS 3.0 Fifth Edition Green Papers, which included an introduction to SFIG’s Deal Agent Agreement, Recommendations on Bondholder Communications, MISMO/SFIG Data Standardization Recommendations, and Considerations for Materiality Standards and Enforcement in the Event of Breaches.

SFIG would like to thank all participants and sponsors who helped make this another great symposium!

For additional information on RMBS 3.0, or to join the Task Force, please contact Daniel.Goodwin@sfindustry.org or Dallin.Merrill@sfindustry.org.

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