BMA Adds Format For CMO Reports

The Bond Market Association has reported that it has facilitated the development of a new file format for monthly reporting of payment data for private label collateralized mortgage obligations and asset-backed securities.

The association said the new format addresses "the problem of post-payment adjustments . where DTCC has to revise the payment made to CMO and ABS bondholders after the payment has already gone out."

The new format that is being phased in this year is "designed to decrease the number of such revisions," the association said.

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