GLOBAL SUB-PRIME CRISIS

BANKILEAKS

Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook
 

facebook3           facebook2 

BFCSA
MORTGAGE
DISTRESS SOS

What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.

Visitors

Articles View Hits
705909

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Lee Doyle

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

RBA wants more info on residential mortgage-backed securities

Posted by on in Reserve Bank of Australia
  • Font size: Larger Smaller
  • Hits: 1636
  • 1 Comment
  • Print

   

The Reserve Bank of Australia, or RBA, recently completed a review of reporting requirements currently in place in the RMBS market, and issuers will now need to provide more comprehensive and up-to-date information on the securities.

"We have sought to achieve some uniformity and greater depth in the information reported," said Guy Debelle, assistant governor for financial markets at the RBA, at an industry conference here.

Mr Debelle made the point that reporting standards often vary significantly across issuers, since there is currently no regulatory standard for RMBS reporting. Current standards call on issuers to provide data relating to the asset pools that back the securities and a list of mortgage issuers in the pool.

 

Mr Debelle said the new requirements will require issuers to provide a deeper level of "transaction-related" data on the loans underpinning the issue, including "anonymised loan-level data".

The new requirement will help the RBA to more precisely value the securities held on its balance sheet in terms of both price and risk, and encourage a reduced reliance on credit ratings agency in assessing the securities, Mr Debelle said.

The RBA will invite feedback from the market on the changes until the end of December. In a broader assessment of the RMBS market in Australian, Mr Debelle said conditions have improved, but there remains scope for further improvement.

"You shouldn't expect the market to return to pre-crisis levels," he added.

RMBS issuance in 2012 has recovered to the point that new issues are now reporting maturities, so the stock of outstanding debt has stopped falling. RMBS issuance so far in 2012 has totalled $10 billion, this remains well short of the peak in issuance of $25 billion in 2007.

Last modified on
Rate this blog entry:

Comments

  • doyla66
    doyla66 Thursday, 25 October 2012

    Please remind me again. How can we find out if our own 2009 mortgage was tied up in RMBS?

Leave your comment

Guest Sunday, 31 May 2020