Treasury, OFHEO and SEC Release Joint Report on Mortgage-Backed Securities Markets

February 3, 2003

Washington, D.C., — .The Department of the Treasury, the Office of Federal Housing Enterprise Oversight (OFHEO) and the Securities and Exchange Commission (SEC) today released a joint staff report [pdf] on disclosure practices in the mortgageƐbacked securities (MBS) markets.

The purpose of the report was to evaluate current disclosure practices and consider whether disclosure enhancements are desirable in assisting investors to make informed investment decisions.

The report finds that additional disclosures in the MBS markets are desirable, feasible and would be useful for investors. To implement additional disclosures, the report encourages market participants to work together to reach a consensus on appropriate enhancements. The Treasury Department, OFHEO, and the SEC will continue to monitor and assess disclosure developments in the MBS markets.

Source: Treasury Department