Structured Finance Industry Group Announces First Paper in RMBS 3.0 Green Paper Series

The Structured Finance Industry Group announced the release of its first green paper, titled "A Comprehensive Set of Proposed Industry Standards to Promote Growth in the Private Label Market," in its new RMBS 3.0 Green Paper Series.

The RMBS 3.0 Green Paper Series is a collection of new research papers intended to restore "confidence to the 'private label' of residential mortgage-backed securities ('RMBS') market."

The papers are a product of the RMBS 3.0 Initiative, which is designed to develop proposed standards to "reduce substantive differences within current market practices." Specifically, the RMBS 3.0 Initiative seeks to:

• create standardization in a manner that reflects widely agreed upon best practices and procedures;
• clarify differences in alternative standards in a centralized and easily comprehensible manner to improve transparency across RMBS deals;
• develop new solutions to the challenges that impede the emergence of a sustainable, scalable and fluid post-crisis RMBS market; and
• draft or endorse model contractual provisions, or alternative "benchmark" structural approaches.

See: RMBS 3.0: A Comprehensive Set of Proposed Industry Standards to Promote Growth in the Private Label Market.