FHFA Releases “An Update on the Common Securitization Platform”

On September 15, 2015 the Federal Housing Finance Agency released an update on the Common Securitization Platform (CSP).  The report can be found at FHFA’s Common Securitization Platform website. Some of the highlights of the FHFA update are: Common Securitization Solutions, LLC (CSS) was established in October 2013 as an independent, jointly-owned business entity by Fannie Mae and Freddie Mac. (pg. 6) From 2012 through mid-2015, the Enterprises had invested $146 million in CSS (pg. 2)  In July 2015, CSS, Freddie Mac and Fannie Mae convened a Single Security/CSP Industry Advisory Group (pg. 19) All CSS employees are currently employees of either Fannie Mae or Freddie Mac.  CSS plans to convert its associates to CSS employees in the first half of 2016 (pg.2)