Brief A Progress Report on the Private-Label Securities Market
Laurie Goodman
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For eight years, securitization of mortgages with no government involvement (private-label securities, or PLS) has been insignificant compared with earlier periods. In September 2015, we argued for the introduction of a deal agent to look out for investors’ interests, standardization in PLS documentation, and servicing improvements. The US Department of the Treasury’s PLS initiative and the Structured Finance Industry Group’s RMBS 3.0 Task Force have tried to address these governance issues. We believe these reform efforts have made considerable progress on our first two goals and some progress toward the third.
Research Areas Housing finance Housing
Tags Federal housing programs and policies Housing markets Housing and the economy Single-family finance Credit availability Homeownership Nonagency securitization Finance
Policy Centers Housing Finance Policy Center