FHFA Announces Update on CSP Process – NMP Skip to main content

FHFA Announces Update on CSP Process

Phil Hall
Mar 23, 2017
The Federal Housing Finance Agency (FHFA) updated its plans to implement its Single Security and the Common Securitization Platform (CSP) by announcing the Release 2 phase of the process

The Federal Housing Finance Agency (FHFA) updated its plans to implement its Single Security and the Common Securitization Platform (CSP) by announcing the Release 2 phase of the processThe Federal Housing Finance Agency (FHFA) updated its plans to implement its Single Security and the Common Securitization Platform (CSP) by announcing the Release 2 phase of the process will take place during the second quarter of 2019.
 
Under the FHFA plan, Release 2 will allow Fannie Mae and Freddie Mac to use the CSP to issue a single, common security to be called the Uniform Mortgage-Backed Security (UMBS). This follows the November 2016 implementation of Release 1 by Freddie Mac and Common Securitization Solutions (CSS), a joint venture owned by the government-sponsored enterprises. Under Release 1, Freddie Mac is now using the Data Acceptance, Issuance Support, and Bond Administration modules of the CSP for activities related to its current single-class, fixed-rate securities Participation Certificates (PCs) and Giant PCs. In Release 2, both Freddie Mac and Fannie Mae will begin to use the modules and issue UMBS.
 
"The CSP and Single Security are ambitious projects," said FHFA Director Mel Watt. "I am very pleased with the hard work and determination of all those involved who helped make Release 1 a success and laid the foundation for successful implementation of Release 2. I am also grateful for the support and input we have received from the public and from industry participants. I encourage all market participants to begin moving forward with their preparations to make the changes they will need to accompany implementation of the Single Security Initiative." 
Published
Mar 23, 2017
Governor Appoints Marty Green To Texas Finance Commission

Green has over 30 years of high-level experience in the legal, banking, and financial services industries.

Regulation and Compliance
Jun 27, 2022
NAHB Chairman Blasts Biden Administration Over Lumber Tariffs

Says refusal to cut tariffs on Canadian lumber turns 'a blind eye to America’s housing affordability crisis .'

Regulation and Compliance
Jun 23, 2022
CFPB Director: Agency Reviewing QM Rules, Other Regulations

In a blog post, Rohit Chopra says the goal is to “more clearly communicate the agency’s expectations.”

Regulation and Compliance
Jun 21, 2022
New GSE Guidelines Challenge Condo/Co-op Lenders

Lenders have a terrible time obtaining up-to-date and accurate info from public data

Regulation and Compliance
Jun 16, 2022
10 Legal Steps Every Small Business Should Take

Stay guarded to limit your liability

Regulation and Compliance
Jun 16, 2022
The Fed Boosts Benchmark Rate By 0.75%

Increase is the largest since November 15, 1994.

Regulation and Compliance
Jun 15, 2022