An implementation date for the new uniform mortgage-backed security to be utilized by issuers of both government-sponsored enterprises’ MBS has been set by their regulator.

Back in 2012, the Federal Housing Finance Agency proposed a common securitization platform for use by both Fannie Mae and Freddie Mac.

The platform, which is operated by Common Securitization Solutions LLC — a joint venture between Fannie and Freddie — is expected to reduce interest rates, improve the lending process and cut transaction costs.

Source: Mortgage Daily