See attachment

February 21, 2016

Law of Financial Institutions – LGLS 412

Assignment for: Secondary Mortgage Market and Securitizations

Reference Company: JP Morgan Chase:

Writing Assignment:

The Paper is due Friday, February 26, at 12:00 Noon, submitted to SafeAssign in Blackboard.

Scenario: JP Morgan Chase is interviewing on campus and you are interested in a job. You learn from your advisor that they are considering a new unit to re-start their private label mortgage-backed securitization activities as an issuer of MBS. JP Morgan had largely discontinued this activity after the 2008 financial crisis and after paying a $13 billion settlement in 2013 over mortgage-backed securities sold ahead of the financial crisis.

A significant legal issue that would affect the new unit is Section 942 of the Dodd-Frank Act and new regulations that were written to standardize asset level information for MBS and ABS (asset-backed securities). You want to impress the recruiter by researching Section 942 and the new rule that implements 942 (called “Asset-Backed Securities Disclosure and Registration”). You also decide that you will write a 2 page summary of what you learn to give to the recruiter if asked.

The summary should be roughly 400-600 words in length and in your own words.

· Remember to organize your thoughts and the structure of what you want to write about. Stay focused.

· Be sure to identify all the resources you use. Cite statutes, regulations and any “commentary” pieces or other sources you use.

· Email me if you have questions or want to discuss.

Learning Objective and Grading:

The objective of this assignment is to demonstrate the ability to (a) research a section of law and its implementing regulation, and (b) synthesize and articulately summarize a complex rule. Grades will be assigned within the following ranges:

· 90 to 100 – Writing demonstrates an exceptional grasp of the subject matter, is highly organized (strong intro and conclusion – or use of thesis, if applicable) and extremely well written. Very strong use of resources and well documented.

· 80 to 90 – Good grasp of the subject, well organized and written. Any errors or weaknesses are minor. Good use and attribution of resources.

· 70 to 80 – Writing conveys an adequate understanding, but some errors or misstatements indicate confusion or misunderstanding of subject. Writing is somewhat disorganized and mistakes are distracting. Resources weak.

· 60 to 70 – Poor understanding of subject matter and poor writing skills. Lacks reference to resources and/or contains major errors and weaknesses.