'Sky is falling' with new collateral disclosure rules
Another round of regulatory enforcement and litigation risk could stop the RMBS market in its tracks unless one type of transaction party takes on greater risk, market participants say.
Due diligence firms that appraise homes and review mortgages to determine whether they are compliant or in line with underwriter origination standards will have to sign off on their findings with the Securities and Exchange Commission beginning June 15.“Due diligence firms don’t have that level of liability ...
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