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Servicers Get Smart About SEC's New Regulation AB.
WASHINGTON -- Thanks to the Securities and Exchange Commission and a little industry pressure, private-label issuers, servicers and their auditors are becoming more comfortable with the testing and reporting requirements of Regulation AB.
SEC officials have provided some informal interpretations to the big four accounting firms and the Mortgage Bankers Association. They also pledged to provide written interpretations involving several "troublesome" issues, MBA senior director Alison Utermohlen said.
"My sense they have developed guidance to ease implementation. At this stage of the game I don't think they want to make harder," the MBA official said. [SEC was expected to release the written interpretations on its website after Mortgage Servicing News went to press.]
Servicers of asset-backed securities are required to be audited this ...
- Servicers Get Smart About SEC's New Regulation AB.
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