Issues in Securitization Symposium
Washington, DC
3 May 2010
Hosted By: the Professional Risk Managers' International Association (PRMIA)
Following the collapse of Lehman Brothers in 2008, demand for securities backed by mortgages and other loans dried up. Issuance of private label mortgage-backed securities (MBS) ground to a halt and the purchase by the Federal Reserve of 80 to 85 percent of agency MBS was needed to support the continuation of agency issuance. Asset-backed markets for securities backed by consumer loans have reopened in part due to the support of efforts by the Federal Reserve to revitalize the market, but securitization activity by private issuers remains muted. This PRMIA symposium, held in Washington, DC on 3 May 2010, examined structural, market, and "new" product concepts, as well as potential approaches for revitalizing the securitization market.
FDIC Chairman Sheila Bair delivered a keynote address, and officers from organizations including the American Bankers Association and the American Securitization Forum also presented. NERA Vice President Christopher Laursen concluded the symposium with a recap of the day's sessions.
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