Clock Ticks for Fannie and Freddie as FHFA Designs New Secondary Market Platform

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Posted To: MND NewsWire

In February, the Federal Housing Finance Agency (FHFA) issued a strategic plan for its ongoing conservatorship of Freddie Mac and Fannie Mae (the GSEs). The plan had three primary goals: Build a new infrastructure for the secondary mortgage market . Gradually contract the Enterprises' dominant presence in the marketplace, simplifying and shrinking their operations. Maintain foreclosure prevention activities and credit availability for new and refinanced mortgages. Yesterday FHFA published a white paper proposing an infrastructure that attempts to connect these goals. To maintain the efficient flow of mortgage credit, the existing antiquated and inflexible GSE infrastructures must be upgraded. A transition to a future securitization framework would require a more flexible infrastructure than...(read more)

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Source: www.mortgagenewsdaily.com

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