Why would we want these same people to continue their scheme until there are some substantial regulations in place?
Fannie Mae and Freddie Mac have taken another step in the development and day-to-day management of a single GSE bond by joining together in the formation of a new company.
The two companies established Common Securitization Solutions, a jointly owned limited liability company, with the goal of facilitating the design and eventual implementation of the single GSE bond through the Common Securitization Platform.
Common Securitization Solutions will operate the Common Securitization Platform once it is established, although there has been no acknowledgment of a specific timeline for the development of either the single GSE bond or the Common Securitization Platform to this point.
When the GSE’s conservator, the Federal Housing Finance Agency, released its proposal for the “Single Security” in August, the agency said that it would take “multiple years” to build the single security.