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
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