The Federal Housing Finance Agency's (FHFA) 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac includes the strategic goal of developing a new securitization infrastructure for Fannie Mae and Freddie Mac (the Enterprises) for mortgage loans backed by single-family properties. To achieve this goal, Common Securitization Solutions (CSS), a joint venture owned by the Enterprises, is developing a Common Securitization Platform (CSP) under FHFA's direction and guidance. CSS acts as each Enterprise's agent to facilitate issuance of single-family mortgage securities, release related at-issuance and ongoing disclosures, and administer the securities post-issuance. In addition, CSS is creating the operational capabilities necessary to run the CSP. The CSP will support the Enterprises' single-family mortgage securitization activities, including the issuance by both Enterprises of a common single mortgage-backed security to be known as the Uniform Mortgage-Backed Security (UMBS). The issuance of UMBS should improve the overall liquidity of the Enterprises' securities and help ensure liquidity of the nation's housing finance markets.
FHFA Statement: Statement of FHFA Deputy Director Robert Fishman on the Launch of the New Uniform Mortgage-Backed Security (UMBS) (06/03/2019)
Prepayment Monitoring Report - 2Q2019 (08/20/2019)
Link to all Prepayment Monitoring Reports
FHFA News Release: FHFA Issues Final Rule on Uniform Mortgage-Backed Security (02/28/2019)
Uniform Mortgage-Backed Security Final Rule (02/28/2019)
FHFA News Release: FHFA Updates Progess on the Single Security Initiative and Common Securitization Platform (11/13/2018)
An Update on the Single Security Initiative and the Common Securitization Platform (11/13/2018)
FHFA News Release: FHFA Issues Notice of Proposed Rulemaking on Uniform Mortgage-Backed Security (09/12/2018)
Uniform Mortgage-Backed Security Proposed Rule (09/12/2018)
FHFA News Release: FHFA Issues New Payment Monitoring Report (05/22/2018)
FHFA Announces June 2019 Implementation of the New Uniform Mortgage-Backed Security (03/28/2018)
FHFA News Release: FHFA Updates Progess on the Single Security Initiative and Common Securitization Platform (12/04/2017)
An Update on the Single Security Initiative and the Common Securitization Platform (12/04/2017)
Single Security Initiative Illustrative Implementation Schedule (12/04/2017, updated May 2018)
SIFMA Single Security Webinar (10/04/2017)
Freddie Mac and Fannie Mae Single Security Initiative Market Adoption Playbook (09/06/2017, updated September 2018)
Submit input (select Single Security Initiative (SSI) and the Common Securitization Platform (CSP) in pull down menu)
Review input submitted (select Single Security Initiative (SSI) and the Common Securitization Platform (CSP) in pull down menu)
Fannie Mae Single Security and Common Securitization Platform (CSP) Web page
Freddie Mac Single Security and Common Securitization Platform (CSP) Web page
As of November 30, 2020.
View Deemed-Issuance Ratio for Internal Revenue Code (IRC) Section 817(h)
Related Documents:
2017
FHFA News Release: FHFA Announces Timing for Implementation of Release 2 of the Common Securitization Platform (03/23/2017)
An Update on Implementation of the Single Security and the Common Securitization Platform (03/23/2017)
2016
FHFA News Release: FHFA Announces Successful Implementation of Release 1 of the Common Securitization Platform (12/08/2016)
An Update on Implementation of the Single Security and the Common Securitization Platform (07/07/2016)
FHFA News Release: FHFA Details Plans and Timelines for the Single Security and Common Securitization Platform (07/07/2016)
2015
FHFA News Release: FHFA Issues Update on the Common Securitization Platform (09/15/2015)
An Update on the Common Securitization Platform (09/15/2015)
An Update on the Structure of the Single Security (05/15/2015)
FHFA News Release: FHFA Issues Update on the Single Security (05/15/2015)
Review input submitted (select Single Security Structure Update 2015 in pull down menu)
2014
Request for Input: Single Security Structure (08/12/2014)
FHFA News Release: FHFA Seeks Input on Single Security (08/12/2014)
Review input submitted* (select Single Security in pull down menu)
*FHFA received additional submissions that will not be made public because they were non-responsive or were unrelated to the Request for Input.
2013
FHFA News Release: FHFA Progress Report Details Advancement on Securitization Infrastructure and Credit Risk Sharing (11/25/2013)
A Progress Report on the Implementation of FHFA's Strategic Plan for Enterprise Conservatorships (11/25/2013)
FHFA News Release: FHFA Issues Update on Development of a Common Securitization Infrastructure (04/23/2013)
A Progress Report on the Common Securitization Infrastructure (PDF) (04/23/2013)
2012
White Paper: Building a New Infrastructure for the Secondary Mortgage Market (10/04/2012)
Public Input Received on Building a New Infrastructure (2012-13)