The Federal Housing Finance Agency lifted the curtain Tuesday ona proposal to develop a single mortgage backed security thatwould combine elements of each GSE's existing MBS program.
The single MBS program would encompass many of the poolingfeatures of the current Fannie Mae Mortgage Backed Security andmost of the disclosure framework of the current Freddie MacParticipation Certificate program, FHFA said.
The FHFA also noted that the single MBS is the logical productfrom developing a Common Securitization Platform that would alsodraw upon part of each existing GSE's MBS programs.
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