If the Common Securitization Platform is turned over to a private, nonprofit entity, it could be used to give large banks control over the real estate finance process, warned an industry trade group.

In 2015, Sen. Richard Shelby, R-Ala., introduced a bill that included language calling on the Federal Housing Finance Agency to transition the CSP to private ownership. That measure died, but the provision was later included in the Senate's version of a Treasury appropriations bill, before being stripped out of the final version.

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