04/27/2011 01:00 p.m. - 02:30 p.m. EDT
Financial Institutions + Financial Services, Corporate Finance | Capital Markets, and Structured Finance + Securitization
Kenneth E. Kohler
Securitization has been blamed for parts of the financial crisis, including for facilitating the making of poor quality loans by lenders who sold the risk of those loans into the capital markets.
Our panel of experts from the Business Law Section's Securitization and Structured Finance Committee will discuss a number of changes to securitization practice that Congress included in the Dodd-Frank Act to try to address perceived abuses and the regulations implementing these changes, including new rules requiring securitizers to retain a portion of the risk of losses on the financial assets (the so-called "skin-in-the-game" rule), conduct pre-offering reviews of the financial assets and disclose to investors information revealed by such reviews. The panel will also review additional disclosures to investors regarding the characteristics of the financial assets and the representations and warranties on those assets provided by the ABS transaction documents, new disclosures with respect to demands for repurchases of financial assets relating to breaches of representations and warranties, and ongoing reporting requirements.
ABA will provide CLE credit.
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