Fannie Mae and Freddie Mac will ramp up their risk-sharing transactions significantly in 2014, and may see a somewhat expanded share of MBS issuance, under a new conservatorship plan announced this week by the Federal Housing Finance Agency. The revised “scorecard” also tweaks the project to develop a common securitization platform. The FHFA said it wants each of the two government-sponsored enterprises to structure transactions that transfer some portion of the credit risk on $90 billion of residential MBS this year, three times the level they were directed to reach last year. Both companies appear to be well on the way to meeting this requirement. Freddie late last month announced...