Volume 2014 - Number 11
March 21, 2014
Common Securitization Platform Gets Featured Role In Agency MBS Redesign, But Cannot Find a CEO
Fannie Mae and Freddie Mac continue to develop their new common securitization platform in relative secrecy, although the concept has become a key component of mortgage-finance reform recently unveiled by the leadership of the Senate Banking, Housing and Urban Affairs Committee. Under the bill drafted by Sens. Tim Johnson, D-SD, and Mike Crapo, R-ID, the CSP would operate as a privately-owned utility through which single-family MBS would be issued, with or without the new explicit government guaranty. Regulated by the new overseer of the MBS market, the Federal Mortgage Insurance Corp., the platform would shepherd...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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