Common Securitization Platform and Single Agency Security: No Longer “If,” but “When”

Abstract

This panel on September 22, 2014, at the ABS East Conference in Miami Beach, looked at the progress of the common securitization platform (CSP) and the single-agency security. The make-up of the panel was designed to deliver a variety of perspectives, including those of the Federal Housing Finance Agency, Fannie Mae, Freddie Mac, investors, and data analytics vendors. The five modules that make up the CSP are data acceptance, issuance support, disclosure, master servicing operations, and bond administration. The CSP project, which began several years ago, is making good progress toward completion. Currently, the scope of the CSP project is limited to Fannie Mae and Freddie Mac securities and does not include supporting private-label securities, but the system is being designed using software and interfaces that could, in the future, accommodate non-GSE participants.