Provisions that would have allowed for the securitization of commercial real estate in the Community Development, Credit Enhancement, and Regulatory Improvement Act were defeated by House/Senate conferees. The defeat is a blow to mortgage bankers and brokerages which had lobbied hard for its approval.
Lawmakers chose instead to support only provisions that would facilitate the securitization of small business loans and leases. The House/Senate conferees, who approved the H.R. 3474 provisions July 19, omitted the commercial real estate provisions while ironing out conflicts on H.R. 3474, and H.R. 3841, the Interstate Banking and Branching Efficiency Act of 1994.