FHFA Announces Successful Implementation of Release 1 of the CSP

On Thursday, December 8th, the Federal Housing Finance Agency (FHFA) issued a press release stating that Release 1 of the Common Securitization Platform (CSP) had been successfully implemented on November 21, 2016. According to the release, Freddie Mac is now using the CSP for Data Acceptance, Issuance Support, and Bond Administration activities related to current single-class, fixed-rate, mortgage-backed securities. Based on this implementation, FHFA stated that they will continue to make plans for Release 2, which will involve Fannie Mae and Freddie Mac issuing a common, single MBS.

The timeframe for Release 2 is expected to be announced in the first quarter of 2017.

The CSP will support the GSE’s securitization activities, including Fannie Mae and Freddie Mac jointly issuing a single MBS called the Uniform Mortgage Backed Security (UMBS). FHFA has stated that issuing the UMBS should improve the overall liquidity of the Enterprises' securities.

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