EU self-cert ban 'a solution looking for a problem'
The European Union's ban on securitizing self-certified residential loans has been widely criticised by the market since being introduced last month, with DBRS adding to the outcry this week, describing the rule as a “solution looking for a problem”.
Following the last minute addition of the language banning self-certified loans in European mortgage-backed securities, a number of sources have said that the proposals are unnecessary, as most forms of self-certified lending have been banned across much of Europe already.
Given that new origination of self-certified mortgages is
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.