Fannie and Freddie Continue Moving Toward Common Security
Another milestone was reached on Wednesday as the governmentrnsponsored enterprises (GSEs) and their conservator the Federal Housing FinancernAgency move toward creation of a Common Securitization Platform (CSP). Fannie Mae and Freddie Mac announced therncreation and composition of an Industry Advisory Group. This entity is intended to provide feedback tornCommon Securitization Solutions, LLC (CSS), the corporation jointly formed byrnthe GSEs to develop and manage the platform and development of a singlernmortgage-backed security for loans guaranteed by both GSEs. </p
ThernCSP and new single security are among FHFA’s principal strategic goals for thernGSE conservatorship. The CSP will performrnmany of the core back office operations for the single security, as well asrnmost of the GSEs’ current securitization functions for single-family mortgages.rnThe CSP is necessary for the implementation of the single security which will bernissued by the GSEs to finance fixed-rate mortgage loans backed by one- tornfour-unit single-family properties.</p
The advisory group will be composed ofrnrepresentatives of major stakeholders in the housing finance industry. One consumer rights organization will alsornsit on the panel. In addition to FreddiernMac, Fannie Mae and CSS, participants in the Industry Advisory Group will comernfrom:</p<ul type="disc"
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