Private-Label Securities Market
In This Section
In the years following the financial crisis, issuance of mortgage-backed securities without a government guaranty has remained lackluster, keeping private capital on the sidelines as government-supported loans continue to dominate the market.
Overview: The market for private-label RMBS is an important channel by which private entities, rather than taxpayers, invest in mortgage credit risk. While fundamental problems in this market were exposed a decade ago, solutions have been more difficult to implement than many expected. MBA supports both market-based and policy-based reforms that would make the private-label market more attractive as opposed to reforms that aim to "crowd in" private capital through regulatory measures to shrink the agency market.
Recent MBA Activity Related to Private-Label Securities Market
- Joint Trades Letter: Comments to the SEC on RMBS Disclosures (May 19, 2020)
- Joint Trades Letter: Coalition on Credit Risk Retention Review (January 30, 2020)
- Comment Letter: MBA to FDIC on Securitization Safe Harbor Rule (October 21, 2019)
- Testimony: David H. Stevens, CMB to US House Subcommittee on Housing & Insurance (November 2, 2017)
- Testimony: David H. Stevens, CMB on Principles of Housing Finance Reform (June 29, 2017)
- Letter: MBA Supports Confirmation of Steven Mnuchin for Treasury Secretary (January 17, 2017)
- Letter: MBA Supports Comprehensive GSE Reform (June 8, 2016)