Oct. 5, 2012 – The Federal Housing Finance Agency is seeking public comment on a white paper released Thursday that details plans for a new securitization platform to get the secondary market through the housing finance reform period.
The agency is proposing a securitization platform to process payments and perform other functions that could be used by multiple issuers. It is also proposing a contractual framework supporting the new infrastructure.
FHFA Acting Director Ed DeMarco previewed the agency’s plans for a new securitization platform at NAFCU’s Congressional Caucus in September. He told Caucus attendees that the platform is ultimately aimed at enabling numerous lenders, including credit unions, to compete in the secondary mortgage market as Fannie Mae and Freddie Mac transition out of conservatorship and a new system is put in place.
FHFA is accepting comments on the proposal until Dec. 3. Input may be submitted via email to SecuritizationInfrastructure@fhfa.gov or directly on FHFA’s website.
The white paper is available to view online.