Financial Services Litigation
On August 12th, the Federal Housing Finance Agency published a Request for Input on the proposed structure for a Single Security that would be issued and guaranteed by Fannie Mae or Freddie Mac.
The Single Security project is intended to improve the overall liquidity of Fannie Mae and Freddie Mac mortgage-backed securities by creating a Single Security that is eligible for trading in the to-be-announced market. FHFA is requesting public input on all aspects of the proposed Single Security structure and is especially focused on issues regarding the transition from the current system to a Single Security. Specific questions FHFA is asking relate to TBA eligibility, legacy Fannie Mae and Freddie Mac securities, potential industry impact of the Single Security initiative, and the risk of market disruption.
Comments on the request are due by October 13, 2014.
Read more here.
Read the Request for Input here.
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