Freddie Will Be First to Use CSP, FHFA to Announce Date in 2016
September 25, 2015
Freddie Mac will be the first to use the Common Securitization Platform but the implementation date won’t be released until sometime in 2016, said the Federal Housing Finance Agency in a recent announcement. David Applegate, CEO of Common Securitization Solutions, the joint venture owned by Freddie and Fannie Mae, recently revealed that a large portion of the work has been completed to reach a major milestone in its progress. Applegate said at last week’s ABS East conference in Miami that CSS has completed about 90 percent of the work required for single-class security issuance by Freddie on the CSP. However, in an update detailing the progress in developing the CSP software, the FHFA stopped short of pinpointing a definite timeline and said...