Fannie Mae-No Politics (FNMA)

[Dollars1]

21 (1) ANNUAL REPORT ON DEVELOPMENT OF 22 THE PLATFORM.—Not later than 1 year after the 23 date of enactment of this Act, and every year there- 24 after, the Agency shall submit to Congress a report
1on the status of the development of the Platform, 2 which shall include— 3 (A) the projected timelines for— 4 (i) completing development of the 5 Platform to support the securitization 6 needs of the enterprises; and 7 (ii) completing development of the 8 Platform to support the securitization 9 needs of issuers other than the enterprises; 10 and 11 (B) the projected budget for the develop- 12 ment of the Platform. 13 (2) REPORT ON TRANSITION OF THE PLAT- 14 FORM.—Not later than 3 years after the date of en- 15 actment of this Act, the Agency shall develop a plan, 16 and submit to the Committee on Banking, Housing 17 and Urban Affairs of the Senate and the Committee 18 on Financial Services of the House of Representa- 19 tives a report on such plan, to transition the Plat- 20 form from a joint venture owned by the enterprises 21 into a private, nonprofit entity that best facilitates 22 a deep, liquid, and resilient secondary mortgage 23 market for mortgage-backed securities.