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.