Residential Mortgage-Backed Securities (RMBS)
The residential mortgage market is
experiencing unprecedented changes. There have been major home
value declines, delinquencies and foreclosures. Governing laws and
regulations are being revamped. The Dodd-Frank Act and the SEC's
proposed amendments to Regulation AB will have a significant
impact. The accounting rules are also undergoing substantial
revisions, and sweeping changes to banking regulation and consumer
protection laws are expected. All of these and other developments
will reshape the RMBS market dramatically.
Our clients are working through the many
issues facing the industry to identify ways forward and bring back
the securitization market that is so vital to housing and mortgage
finance in the United States. Although there is much more to be
done, there are glimmers of improvement. Home prices are beginning
to stabilize and there have been substantial volumes of
refinancings. Resecuritizations are occurring and new RMBS
issuances are gradually making their way to the market. Financial
institutions are finding opportunities to advance their residential
mortgage businesses.
SNR Denton’s RMBS legal team is among the largest and most
diverse in the legal industry. Our history is interwoven with the
advent of RMBS, the market expansion over the last three decades,
and the legislative milestones that continue to shape the
landscape. In addition to noteworthy innovations, we have been able
to provide our clients with the kind of representation that creates
efficiency in a time-sensitive marketplace. One of the hallmarks of
RMBS leadership is our position on the industry’s league tables
where we have ranked among the top ten year after year.
Areas of Focus:
- Prime and subprime
loans
- First and second lien
loans
- HELOCs
- Manufactured housing
loans
- Reperforming loans
- Reverse mortgages
- Non-performing loans
- Regulatory and compliance
- Resecuritizations