Single Security Update

An Update on the Structure of the Single Security

​The Federal Housing Finance Agency's (FHFA's) 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac includes the goal of developing a single mortgage-backed security to be issued and guaranteed by Fannie Mae or Freddie Mac. The goal is to improve overall liquidity of Fannie Mae and Freddie Mac securities, which currently are not interchangeable with one another. In order to advance the early stages of this multi-year initiative, FHFA sought public input on the proposed Single Security structure. After careful consideration of the responses and further dialogue with industry stakeholders, FHFA issued An Update on the Structure of the Single Security (this report), which details progress on the single mortgage-backed security. FHFA invites further feedback on the Single Security structure determinations described in the Update.