Fannie Mae, Freddie Mac and Common Securitization Solutions have created an industry group tasked with providing feedback and sharing information on the creation of a uniform residential mortgage-backed security.
The advisory group will feature a wide range of participants, including folks from the Financial Services Roundtable, the Mortgage Bankers Association, Independent Community Bankers Association and the American Bankers Association. Freddie Mac, Fannie Mae and CSS plan to also participate in the talks.
The two government-sponsored enterprises are working to create a single residential MBS product under orders from the Federal Housing Finance Agency. The Common Securitization Platform is being developed to perform back-office operations for the Single Security.
