The American Securitization Forum, an affiliate of SIFMA, released its ASF Model for Residential Mortgage-Backed Securities Representations and Warranties. The model was designed to more closely align incentives among mortgage originators and investors. "The ASF continues to believe that risk retention for issuers of RMBS is embodied best in having securitized loans subject to a clear and meaningful set of representations and warranties that is enforced by a workable system for detecting breaches and delivering remedies," said Ralph Daloisio, managing director at Natixis and chairman of the ASF board. Read the ASF news release.
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