Regulatory Alerts2019-02-27 | NDMC-20Added · Updated
Technical Standards for Real Estate Securitization Funds
The Committee of Norms of the Central Reserve Bank of El Salvador issued these standards to regulate Real Estate Securitization Funds, obligating authorized securitizers to comply with specific operational, valuation, and disclosure requirements. The document mandates that underlying real estate assets be appraised by registered experts within twelve months, remain free of legal encumbrances and taxes, and carry appropriate insurance coverage for construction risks. It further requires securitizers to submit detailed technical explanatory documents, feasibility studies, and sworn declarations to the Superintendence of the Financial System to obtain authorization for the issuance of securities.
Topics
Share