Sec. 842. Exemption from risk retention requirements for nonresidential mortgage

151 words·~1 min read·/bill/115/hr/10/rh/section-842

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Section 15G of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o–11 ) is amended— in subsection (a)— in paragraph (3)(B), by striking and at the end; in paragraph (4)(B), by striking the period and inserting ; and ; and by adding at the end the following: the term asset-backed security refers only to an asset-backed security that is comprised wholly of residential mortgages. ; in subsection (b)— by striking paragraph (1); and by striking

(2); Residential mortgages.— by striking subsection

(h)and redesignating subsection

(i)as subsection (h); and in subsection

(h)(as so redesignated)— by striking effective— and all that follows through

(1)with respect to and inserting effective with respect to ; in paragraph (1), by striking ; and and inserting a period; and by striking paragraph (2). Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking subsection (c).

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15 USC 78o–11

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Sec. 842

Exemption from risk retention requirements for nonresidential mortgage

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