Michael D. Berman, vice chairman of the Mortgage Bankers Association (MBA), has issued a statement supporting the Federal Reserve Board's decision to extend the Term Asset-Backed Loan Facility (TALF) program for newly issued asset-backed securities (ABS) and legacy commercial mortgage-backed securities (CMBS) through March 31, 2010, and newly issued CMBS through June 30, 2010.
‘MBA has consistently advocated for a longer duration for the CMBS TALF program as an essential element for its success," Berman says. "We strongly endorse today's announcement by the Federal Reserve to extend the program in order to promote financial stability and to enhance liquidity in the CMBS market."
 The securities already eligible for collateralizing TALF loans include the major types of newly issued, AAA-rated ABS backed by loans to consumers and businesses, and newly issued and legacy AAA-rated CMBS.
SOURCE: MBA
