SFIG Meets with Treasury Officials to Discuss PLS Market Initiatives

On Monday, May 1st, representatives from SFIG and the securitization industry met with officials at the Treasury Department to discuss impediments to private capital in the housing finance market generally, and the PLS market in particular.

This meeting took place after a previous meeting between Counselor to the Secretary Craig Phillips and SFIG staff, wherein SFIG discussed with Mr. Phillips regulations impeding REIT investments, and later provided him information on regulations affecting securitization and the mortgage vertical. On Monday, meeting attendees discussed factors like operational costs, redundant capital overlays, regulatory impediments, and legal uncertainty that has made PLS less attractive than alternative funding channels. Mr. Phillips recognized the valuable work that SFIG and its members have done on RMBS 3.0 and in working to bring back private capital. SFIG will continue to work with Treasury to advocate for a return to historically normal balance of funding mix in the U.S. housing market.

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