Legacy securities program creates CMBS investment opportunities

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					Legacy securities program creates CMBS investment opportunities
Anonymous
Mortgage Banking; May 2009; 69, 8; Docstoc
pg. 107




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Description: The Obama administration's $1 trillion plan to purchase legacy assets, if successful, can add liquidity for bank and non-bank lenders and bring investment back into the commercial mortgage-backed securities (CMBS) market. The administration's Public-Private Investment Program would assist investors in purchasing distressed asset-backed securities, including AAA-rated CMBS. The program includes two portions: Public-Private Investment Funds (PPIFs) for legacy securities, and expansion of the Troubled Assets Loan Facility program for legacy securities. The Treasury said it expects the PPIFs to target non-agency residential mortgage-backed securities and CMBS prior to this year with a AAA rating at origination.
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