​FHFA, the Enterprises, and Common Securitization Solutions (CSS) are committed to developing the Single Security Initiative and the Common Securitization Platform (CSP) in a transparent manner.  This commitment includes the regular release by FHFA of public updates to provide information to, and solicit feedback from, policymakers, market participants, and the public.

This Update reiterates our commitment to transparency by addressing topics that stakeholders have indicated are important to the industry and policymakers:

• The implementation of Release 1 of the CSP;
• The planned implementation timeframe for Release 2 of the CSP, which will coincide with trading in and issuance of Uniform Mortgage-Backed Securities (UMBS) and related resecuritizations;
• Milestones that the Enterprises and Common Securitization Solutions have achieved since the July 2016 Update on Implementation of the Single Security and the Common Securitization Platform (July 2016 Update) and that are integral to implementation of Releases 1 and 2 of the CSP and the implementation of the Single Security Initiative;
• The steps FHFA will take to review potential changes to Enterprise programs, policies, and practices, and to monitor and address any corresponding effects on the prepayment speeds and relative pricing of the Enterprises' mortgage-backed securities; and
• The costs of building and running the CSP.

Related News Release