CREFC Releases Market Standards for “CMBS 2.0”

On March 24, the CRE Finance Council (CREFC) released its new market standards for “CMBS 2.0“. The standards include Model Representations and Warranties, Model Repurchase Remediation Language, a Principles-Based Underwriting Framework and disclosure standards in an Annex A that includes more than 180 data fields for each loan and related property collateral. These standards are intended to provide support to U.S. federal regulators in implementing the Dodd-Frank Act’s goal of better aligning investor and originator interests. CREFC’s market standards have been formally delivered to Treasury, the Fed, the FDIC, the SEC, and the OCC, the agencies which are charged with promulgating risk-retention regulations. CMBS 2.0 Market Standards Webpage.