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  • FHFA officially launches the Uniform Mortgage-Backed Security

    Federal Issues

    On June 3, the Federal Housing Finance Authority (FHFA) officially launched the Uniform Mortgage-Backed Security (UMBS), a common security through which Fannie Mae and Freddie Mac mortgage-backed securities will be issued. FHFA Deputy Director Robert Fishman noted that the new UMBS will bring “additional liquidity and efficiency to the market.” Moreover, “[b]y addressing structural issues and trading disparities, the UMBS will benefit taxpayers and the nation's housing finance system.”​ As previously covered by InfoBytes, in March 2018, FHFA announced the UMBS, stating that it would replace all current offerings of mortgage-backed securities that occur in the to-be-announced (TBA) forward market. The FHFA also indicated that the UMBS would be issued using the Common Securitization Platform (CSP) through the Enterprises’ joint venture, Common Securitization Solutions (CSS). 

    Federal Issues FHFA Securities Fannie Mae Freddie Mac Uniform Mortgage-Backed Security Mortgages

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