| Title: | MBA ALERT: MBA responds to ASF 'Model Provisions' for Purchase and Selling Agreements; Conference Call on 12/21 |
| Source: | MBA |
| Date: | 12/20/2005 |
TO: Loan Administration Committee
Secondary and Capital Markets Committee
Attestation Working Group
Legal Issues and Regulatory Compliance
Members interested in Reg AB
FROM: Vicki Vidal and Kathy Gibbons
RE: MBA Conference Call
TOPIC: PSA Issues/Discussion of ASF Model Provisions
Call Date: December 21, 2005
TIME: 3:00 PM Eastern Time
Dial In # 877/248-0270
Conference Code: 5572870
MBA submitted the attached letter and mark-up to the American Securitization Forum to achieve more balance in the ASF’s model
provisions for purchase and selling agreements. The model provisions are an effort to amend PSAs to comply with the SEC’s
Regulation AB. In general, MBA’s concerns pertain to whether some of the language is realistic and whether the burden for
Regulation AB compliance is appropriately shared among the transaction parties. MBA’s members include issuers, servicers
and other transaction parties. Our goal is to alert our members to issues they should understand in order to enter knowledgeably
into their agreements.
On December 21, at 3:00 PM ET, MBA will host a conference call to discuss the provisions in depth. For more information,
call Kathy Gibbons at 202/557-2870 or Vicki Vidal at 202/557-2861.
Attachments:
* MBA Markup of draft ASF model provisions