Although it has been almost 18 months since the passage of the Dodd-Frank Act, many if not most of the critical rule-making actions that are needed to implement the Dodd-Frank Act in the securitization arena are still in flux. 2011 has ended without providing many concrete answers on the most far-reaching proposals. Yet numerous other rule-making efforts have continued and some have indeed brought new regulations into effect. As 2012 gets under way, below is a quick reference guide to what has happened and where we are on a select number of regulatory actions affecting securitization.