The essence of these claims is that mortgages in the securitization pools, or sold as unsecuritized whole loans, did not conform to representations and warranties made about their quality – specifically that the loan applications contained misrepresentations or the underwriting was not in conformance with stated standards.
Transparency is the crucial cornerstone of each regulation  Transparency is a very important issue within the entire regulatory process around OTC derivatives markets. Supervisors but also market participants need more reliable, transparent  BIS central bankers’ speeches  1  and accessible data on the derivatives markets.