WASHINGTON—The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac would begin issuing its single security - the Uniform Mortgage-Backed Security (UMBS) - June 3, 2019.
The new security will take the place of TBA-eligible mortgage-backed securities and will be issued through the Common Securitizations Solutions (CSS) using the Common Securitization Platform (CSP).
In November 2016, Freddie Mac began using CSP software for certain activities related to current single-class, fixed-rate, mortgage-backed securities. This was done in conjunction with the CSS, a limited-liability company created by Freddie and Fannie Mae.