Nov 25th: DeMarco is talking about post conservatorship -last line
FHFA Progress Report Details Advancement on Securitization
Infrastructure and Credit Risk Sharing
Washington, DC – The Federal Housing Finance Agency (FHFA) issued a Progress Report
today on the initiatives outlined in the Strategic Plan for the Enterprise Conservatorships and
the 2013 Conservatorship Scorecard. In particular, important progress toward the building of a
new secondary mortgage market infrastructure and the contracting of Fannie Mae and Freddie
Mac’s dominant presence in the marketplace has been achieved.
The Progress Report details the following milestones:
• Significant progress has been made on the development and initial testing of the
Common Securitization Platform (CSP); however challenges, including necessary
changes to Fannie Mae’s and Freddie Mac’s technology and business processes, remain
before full implementation.
• Fannie Mae and Freddie Mac have formally established Common Securitization
Solutions, LLC as the joint venture that will own the CSP and related business and
operational functions.
• Fannie Mae and Freddie Mac have each executed multiple risk-sharing transactions
totaling more than $30 billion.
• Fannie Mae and Freddie Mac have achieved the Scorecard objective of gradually
reducing the less liquid portions of their retained portfolios.
• Fannie Mae and Freddie Mac have completed review of pre-conservatorship loan
acquisitions and have recovered more than $18 billion in restitution for breaches of
selling representations and warranties.
“These accomplishments represent important steps that are helping to bring stability and
liquidity to the housing market while also laying the foundation for a future, postconservatorship
housing finance system,” said FHFA Acting Director Edward J. DeMarco.
“Much more remains to be done and our work will continue while lawmakers decide a
future course.”
Interested parties are invited to provide written input on this report via email to:
ConservatorshipStrategicPlan@fhfa.gov Less
