SIFMA is taking part in a global initiative to offer recommendations that do not require legislation or new regulations but strive to restore confidence in securitisation markets. "Securitisation is part of the engine that drives consumer finance, and a significant part of that engine is stalled," said Timothy Ryan, president and CEO of SIFMA. Residential mortgage-backed securities are the focus of many of the recommendations, which include a call to boost transparency, standards for due-diligence disclosure and repurchase procedures. Other groups participating in the effort include the European Securitisation Forum, the American Securitization Forum and the Australian Securitisation Forum. Read the SIFMA news release.
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