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Promote sustainable and equitable access to affordable housing.
2023 Scorecard
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Washington, DC – The Federal Housing Finance Agency (FHFA) today released An Update on the Structure of the Single Security. The Update details progress that has been made on the single mortgage-backed security that would be issued by Fannie Mae or Freddie Mac. Developing the Single Security is a key goal of FHFA's 2014 Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac. Finalizing the structure of the Single Security is a 2015 Scorecard item for both companies and for Common Securitization Solutions, LLC (CSS), the joint venture between Fannie Mae and Freddie Mac that is advancing the work on this project.
The Single Security project is intended to improve the overall liquidity of Fannie Mae and Freddie Mac mortgage-backed securities, and lower costs for borrowers and taxpayers. Last year, FHFA issued a Request for Input on all aspects of a proposed structure for the Single Security. This Update contains FHFA's decisions based on careful consideration of the responses and further dialogue with industry stakeholders. These decisions are generally consistent with the proposal set forth in the Request for Input.
"While the Single Security remains a multi-year initiative, we believe this Update represents another significant milestone we have reached in defining the structure and processes necessary to transition successfully to a Single Security," said FHFA Director Melvin L. Watt. "Our objective is to continue to make progress on building a new securitization infrastructure for Fannie Mae and Freddie Mac that is adaptable for use by other secondary market participants in the future. FHFA therefore invites additional feedback on the decisions about the Single Security structure described in this Update," Watt said.
Interested parties may submit additional input electronically via FHFA.gov, or to the Federal Housing Finance Agency, Office of Strategic Initiatives, 400 7th Street, S.W., Washington, DC 20024. All submissions received will be made public and posted to FHFA's website.
Link to An Update on the Structure of the Single Security
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