The Federal Housing Finance Agency should direct Fannie Mae and Freddie Mac to move toward a common, fungible security while also striving to ensure the government-sponsored enterprises’ safety and soundness and promote liquidity and access to the secondary mortgage market, according to early feedback from industry groups. Last month, the FHFA issued a request for input regarding its strategic plan for fiscal years 2015 through 2019. The FHFA plan identifies three strategic goals for the GSEs: ensuring safe and sound regulated entities; ensuring liquidity, stability and access in housing finance; and managing Fannie’s and Freddie’s ongoing conservatorship. The Mortgage Bankers Association called on...