The SEC, the Federal Reserve Board, the OCC, the Department of Housing and Urban Development, the FDIC and the Federal Housing Finance Agency reassessed several provisions of the Credit Risk Retention Regulation and decided not to propose any changes at this time.
News & Insights
The U.S. District Court of the District of Connecticut granted the SEC's Motion to Dismiss an enforcement action against a brokerage firm and global investment bank trader for allegedly lying to customers about bond prices in trades of mortgage-backed securities. In support of its Motion, the SEC said that the case has been "administratively closed since December 12, 2014" and that the parties agree on dismissal. As previously covered , the trader was criminally charged for causing customers to overpay for bonds they purchased and accept lower prices for bonds sold. A jury convicted the trader
SEC Chair Jay Clayton asked for public comment on whether asset-level disclosure requirements for residential mortgage-backed securities are causing a decrease in SEC-registered offerings.
The SEC Division of Corporation Finance granted no-action relief to a Maryland-based real estate investment trust from tender offer requirements.
The SEC settled charges against a mortgage service provider for "misstated financial results." According to the SEC, the provider failed to value mortgage servicing rights appropriately in violation of numerous sections of the Securities Exchange Act.