REFinBlog

Editor: David Reiss
Brooklyn Law School

April 25, 2016

TRID Trials

By David Reiss

The Consumer Financial Protection Bureau issued the TILA-RESPA Integrated Disclosure (TRID) Rule which went into effect more than six months ago. The TRID Rule were designed to enhance consumer protections in the mortgage application process.  The mortgage industry has been … Continue reading

March 8, 2016

The Future of Securitization

By David Reiss

SEC Commissioner Michael Piwowar’s Remarks at ABS Vegas 2016 are worth a look for all of those interested in the future of the mortgage-backed securities market. I have interspersed selections of his remarks with my comments: As our country’s capital markets … Continue reading

February 18, 2016

Economic Factors That Affect Housing Prices

By David Reiss

S&P has posted a paper on Economic Factors That Affect Housing Prices. This is, of course, an important topic, albeit one that is an art as well as a science. While S&P undertook this analysis more for mortgage-backed securities investors than for … Continue reading

December 8, 2015

Reviewing the Big Short

By David Reiss

Realtor.com quoted me in Explaining the Housing Crash With Jenga—Did ‘The Big Short’ Get It Right? The story reads in part, One of the more hyped movie releases this Oscar season stars the housing crisis itself: “The Big Short,” in which four … Continue reading

November 12, 2015

RMBS 3.0 and the Public Good

By David Reiss

The Structured Finance Industry Group has issued RMBS 3.0: A Comprehensive Set of Proposed Industry Standards to Promote Growth in the Private Label Securities Market. RMBS 3.0 is SFIG’s initiative to reinvigorate the “private label” residential mortgage-backed securities (“RMBS”) market: In … Continue reading

November 6, 2015

The End of Private-Label Securities?

By David Reiss

J.P. Morgan’s Securitized Products Weekly has a report, Proposed FRTB Ruling Endangers ABS, CMBS and Non-Agency RMBS Markets. This is one of those technical studies that have a lot of real world relevance to those of us concerned about the … Continue reading

October 29, 2015

Frannie v. Private-Label Smackdown

By David Reiss

S&P posted a report, Historical Data Show That Agency Mortgage Loans Are Likely to Perform Significantly Better Than Comparable Non-Agency Loans. The overview notes, We examined the default frequencies of both agency and non-­agency mortgage loans originated from 1999­-2008. As … Continue reading