【正文】
closed the notice with helpful list of specific areas brokerdealers should include in their investigation, including: 1. As to the issuers and management: a. Historical financial statements。 and d. Investigation of litigation and regulatory pliance。 and depth review of the financial models and projected returns, including stress testing. 3. As to issuer39。s recent Release 3461858 proposing significant the offering process, disclosure and reporting for assetbacked securities .[ABS Proposal summary].significant is probably an understatement as the ABS proposal includes almost 200 pages of proposed rules, requiring some 365 pages of additional explanation, the paperwork reducing act portion of the ABS Proposal by itself continues for 27 pages. Of course the underlying problems addressed in the ABS Proposal are critically important to our economical recovery. Perhaps no other single factor has been so broadly attributed as a cause of the United State and even worldwide capital market collapse. in the ABS Proposal the SEC cites the importance of the proposed rulemaking : The recent financial crisis highlighted that investor and other participant in the securitization market did not have the risk underlying those securities and did not value those securities properly or accurately .The severity of this lack of understanding and the extent to which it pervaded the market and impacted the US and worldwide economy calls into question the efficacy of several. In light of the problems exposed by the financial crisis, we are proposing significant revisions to our rules governing offers, sales and reporting with respect to assetbacked securities. These proposals are designed to improve investor protection and promote more efficient assetbacked market. As its inception, securitization primarily served as a vehicle for mortgage financing, since then assetbacked securities have played a significant role in doth the 7 US and global economy. At the end of 2020, there were more than $7trillon of both agency and nonagency mortgagebacked securities outstanding. Securitization can provide liquidity to nearly all major sectors of the economy including the residential and mercial real estate industry, the leasing industry, and the mercial lending and credit market. Many of the problems giving rise to financial crisis involved structured finance products, including mortgagebacked securities were used to collateralize other debt obligations such as collateralized debt obligation and collateralized loan obligations, types of assetbacked securities that are sold in private placement. From 《 Real Estate Finance》 8 創(chuàng)業(yè)者的轉(zhuǎn)機(jī):房地產(chǎn)的盈利時(shí)刻 在房地產(chǎn)金融行業(yè)中有過(guò) 獲取 更 多盈利 的時(shí)刻嗎 ?更 高興 的時(shí)刻,毋庸置疑就是獲取更多利潤(rùn)的時(shí)刻,但是更有趣的時(shí)刻是何時(shí)呢?這一年應(yīng)該是在 2020年 9 月 ,當(dāng)看到房地產(chǎn)金融結(jié)構(gòu)的創(chuàng)造性時(shí)。 一件事情是確定的,許多人,無(wú)論是立法委員,調(diào)解員,律師,會(huì)計(jì)師,銀行家,還是那些創(chuàng)造并消耗房地產(chǎn)資金的人,現(xiàn)在都在努力的工作去確定( 1)如何解決不良的房地產(chǎn)資金結(jié)構(gòu); (2)如何去提高結(jié)構(gòu)和形成房地產(chǎn)資金和未來(lái)市場(chǎng)的傳遞。如果任何與目前相同的形式通過(guò),將削減當(dāng)前業(yè)務(wù)的大面積發(fā)展。我們也會(huì)在本專欄關(guān)注其 進(jìn)程 ,以及對(duì)于本專欄的所有 話題 ,我們也期待能聆聽(tīng)到你們的觀點(diǎn)。 ” 在一個(gè)備忘錄中記載著對(duì)加州公共雇員退休基金的方案審查和房地產(chǎn) 的 相關(guān)問(wèn)題。在 2020 年 10 月 11 號(hào),政府官員將其寫進(jìn)了 1584 議會(huì)法案,其中規(guī)定了中介公司的作用和要求公開(kāi)其對(duì)政府和當(dāng)?shù)赝诵荻鲁蓡T 做 出的貢獻(xiàn)。這個(gè) 10 議案仍然面臨 著 交易協(xié)會(huì)的強(qiáng)烈抗議,相對(duì)于與徹底的說(shuō)客相違背的規(guī)章來(lái)說(shuō),這并不驚奇。在 2020 年和 2020 年中, PCA 在加州公共雇員退休基金投資方案的全文中發(fā)現(xiàn)了一個(gè)重要的 特 點(diǎn),就是在更多的控制下追求一個(gè)更穩(wěn)定得的策略。 中介公司或者所謂的法令 D 或者條例 506,就是通過(guò)有價(jià)證券經(jīng)濟(jì)自營(yíng)商提供的售賣,給中小型商店,包括房地產(chǎn),石油,天然氣公司籌措資金,經(jīng)歷了一個(gè)很長(zhǎng)和有意義的歷史。也許更多程度上是一個(gè)實(shí)踐的層面。 這也提醒了經(jīng)濟(jì)自營(yíng)商去尋找?guī)椭? 。 (對(duì)于石油,天然氣,物理)報(bào)告。 當(dāng)然 ABS 涉及的基本問(wèn)題就是我們的經(jīng)濟(jì)復(fù)蘇問(wèn)題,也許沒(méi)有任何一個(gè)因素能夠產(chǎn)生讓美國(guó)和全世界資本市場(chǎng)崩潰的如此大的影響。在 2020 年底,已經(jīng)有超過(guò) 7 萬(wàn)億的代理和非代理抵押證券以及大概 萬(wàn)億的資產(chǎn)證