Freddie Mac Statement on Single Security Initiative and Common Securitization Platform
MCLEAN, VA–(Marketwired – Dec 4, 2017) – The following statement was released today by Freddie Mac (OTCQB: FMCC) and is attributed to David Lowman, executive vice president of Freddie Mac’s Single-Family Business:
“We encourage market participants to start their impact assessments and business planning today so they can be ready by the end of 2018. This will enable a smoother and easier transition when the Single Security Initiative is implemented in 2019. With our implementation of the Common Securitization Platform (CSP) at this time last year, we paved the way for a combined Freddie Mac and Fannie Mae $3.5 trillion market of to-be-announced (TBA) Uniform Mortgage-Backed Securities (UMBS). Today, we continue to work together, under the direction of the Federal Housing Finance Agency (FHFA), to ensure the readiness of all parties involved in this complex undertaking.”
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog.