TALF’s Extension Delivers Hope, Disappointments

Law360, New York (September 28, 2009, 1:08 PM EDT) -- With a simple extension of a government program this summer, the Federal Reserve and the U.S. Department of the Treasury have given a bit of breathing room to the commercial mortgage-backed securities market — but seemingly extinguished the hopes of those who had urged the program's expansion to residential mortgage-backed securities.

The $1 trillion Term Asset-Backed Securities Loan Facility, or TALF, originally was designed with an eye toward sparking increased lending for consumers and businesses. The program provides financing to investors who then buy asset-backed securities...
To view the full article, register now.