Issuers of subprimeRMBS are required to disclose historical performance information for past securitizations that contain mortgage loans similar to those in the RMBS being offered to investors.
Barclays, which sells residential subprime mortgage securitizations (RMBS), was misrepresenting the historical delinquency rates for three subprimeRMBS it underwrote and sold to investors from March 2007 through December 2010, Finra says.