SFIG Releases RMBS 3.0 Fifth Edition Green Papers

WASHINGTON, Dec. 7, 2016 /PRNewswire/ -- The Structured Finance Industry Group, Inc. ("SFIG"), a member-based trade industry group focused on improving and strengthening the broader structured finance and securitization market, today announced the release of the Fifth Edition Green Papers. This release substantially builds upon our growing series of Green Papers, which are aimed at restoring confidence to the private label RMBS market.

The papers are a product of SFIG's RMBS 3.0 initiative and expand upon the collective series of Green Paper editions released over the past two years. The Fifth Edition Green Papers notably include an introduction to SFIG's Deal Agent Agreement. This edition also continues to build upon Recommendations on Bondholder Communications, MISMO/SFIG Data Standardization and Considerations for Materiality Standards and Enforcement in the Event of Breaches. A draft copy of the agreement has been made publically available on our website.

Richard Johns, Executive Director of SFIG said, "The Deal Agent Agreement was identified by our investor membership as one of the key requirements for revitalizing markets as early as our first symposium back in 2013. To arrive at this point, thanks to the efforts of both members and non-members alike, is a significant step forward and couldn't come at a better time considering the new-found optimism around the potential for private capital to play a meaningful role in housing finance."

Alessandro Pagani, Vice President, Portfolio Manager, Head of Securitized Assets at Loomis, Sayles & Company, L.P. added, "It was important for investors to move beyond the recriminations about the past, learn from it, and propose solutions for this vital segment of the mortgage finance market.  We believe the Deal Agent represents a fundamental stepping stone for investors to regain the trust in the RMBS market and foster its responsible growth.  We want to thank for the numerous market participants who contributed to its development."

RMBS 3.0 is a broad industry supported endeavor designed to develop proposed standards and reduce substantive differences within current market practices. The Green Papers are preliminary documents released with the aim of stimulating further debate and discussion. The initiative was launched in October 2013, and brings representatives from various industry sectors together to identify, debate and develop solutions to the issues inhibiting the return of the RMBS market. The RMBS 3.0 Task Force includes individuals from over 50 institutional members across all industry sectors. Work-streams are co-chaired by at least one investor, one issuer, and other relevant market participants.

RMBS 3.0 Seeks To:

• Create standardization where possible, in a manner that reflects widely agreed upon best practices and procedures
• Clarify differences in alternative standards in a centralized and easily comprehendible 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
• Draft or endorse model contractual provisions, or alternative "benchmark" structural approaches, where appropriate to reflect the foregoing

About Structured Finance Industry Group, Inc.
Structured Finance Industry Group, Inc. ("SFIG") is a member-based, trade industry group focused on improving and strengthening the broader structured finance and securitization market. SFIG provides an inclusive network for securitization professionals to collaborate and, as industry leaders, drive necessary changes, be an advocate for the securitization community, share best practices and innovative ideas, and educate industry members through conferences and other programs. Members of SFIG represent all sectors of the securitization market including issuers, investors, financial intermediaries, law firms, accounting firms, technology firms, rating agencies, servicers, and trustees.  Further information can be found at www.sfindustry.org

SOURCE Structured Finance Industry Group, Inc.

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