Anna T. Pinedo, a partner at Morrison & Foerster, writes that it is clear that a U.S. covered bond market will not develop in the absence of legislation, and equally clear that there is conclusive proof of the concept that an active covered bond market can make a large contribution to financing mortgage lending and home ownership.
Thomas J. Infurna and T. Craig Harmon, members at McGuireWoods, and Lucia G. O’Connell, a staff attorney at the firm, write that as pricing and practices in the market for securitized real estate loans have a tendency to influence other sources of real estate capital, portfolio lenders ought not to consider themselves isolated from the requirements implemented and precedents set by the rule.
