Original article by David Bell
The FDIC proposed that private securitization will no longer require the same loan disclosure agreements as bank-issued private RMBS, as reported by International Finance Review today.
Said Senior Portfolio Manager Jake Remley, of Income Research + Management, “I’m not sure it would change the investment opportunity tremendously. No one is going to buy the deal with the type of loans that caused problems in 2006 and 2007. NINJA (“no income, no job, no assets”) loans are not coming back any time soon.”
