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WASHINGTON, DC-Much has been made of the fact that one of the more onerous requirements under Dodd-Frank–at least as far as the real estate industry was concerned—has been rejiggered under a re-proposal issued by a huddle of regulators this week. The new proposal will have a huge impact on the residential mortgage industry and its related securitization activities and for that reason, the change has been both celebrated and vilified.  At the same time, a less noticed–but still huge in its impact–rule change was also proposed for the CMBS space.

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