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In the cold winter of the real estate recession of the late 1980s and the early 1990s an economic spring was created by a combination of the RTC’s efforts to manage and liquidate the troubled assets of U.S. financial institutions (primarily assets of the savings & loan industry), the availability of Wall Street capital to real estate through the vehicle of commercial mortgage backed securities and the resurgence of REIT formations
On September 29, 2011, Judge Cavanaugh of the New Jersey federal district court dismissed a class action securities suit brought against UBS by RMBS investors
On August 31, 2011, the SEC issued a Concept Release announcing that the Commission and its staff are reviewing interpretive issues and seeking public comment on interpretations related to Section 3(c)(5)(C) of the Investment Company Act of 1940 (the “Act”) and its use by REITs in acquiring mortgages and mortgage-related instruments
On May 17, Fitch published a report entitled "Criteria for Rating US Mortgage REITs and Similar Finance Companies" that addresses long-term Issuer Default Ratings (IDRs) for mortgage real estate investment trusts (REITs) and similar finance companies, as well as credit ratings for corporate debt obligations and preferred stock of these issuers
