Following the successful implementation of the first phase of a common mortgage-backed security, the government-sponsored enterprises are moving on to phase 2.

Back in December, McLean, Virginia-based Freddie Mac implemented the common securitization platform on some of its single-family fixed-rate MBS.

The move, which was dubbed Release 1, paved the way for the implementation of a combined to-be-announced MBS for Freddie and cousin Fannie Mae.

Source: Mortgage Daily