CA AB1770

Changes the maturity requirement for mortgage passthrough securities, collateralized mortgage obligations, mortgage-backed bonds, equipment lease-backed certificates, consumer receivable certificates, and consumer receivable-backed bonds from a maximum of 5 years' maturity to a maximum remaining maturity of 5 years or less.

Eliminates the requirement that the issuer of these securities be rated "A" or its equivalent or better by a nationally recognized statistical rating organization (NRSRO).

Maintains the requirement that these securities be rated in a rating category of "AA" or its equivalent or better by an NRSRO.