FHFA On Track with Second Phase of ‘Single Security’ Implementation Effort

The Federal Housing Finance Agency today issued an update on the common securitization platform it is developing to issue the Single Security, a mortgage-backed security to be issued by both Fannie Mae and Freddie Mac. Included in the update is a timeline of key achievements to date, as well as upcoming milestones and the targeted completion date for the second of two planned software releases.

After announcing a delay of Release 2 of the Common Securitization Platform last year, FHFA said that it expects to complete pre-parallel testing for the second phase — which will allow both Fannie and Freddie to issue their own securities, as well as Single Securities — by the end of this year. The agency continues to anticipate the implementation of Release 2 to come in 2019.