Letters

December 4, 2017 Update on the Single Security

Summary

SIFMA recently provided comments to the Federal Housing Finance Agency (FHFA) regarding the Single Security. SIFMA stated, “while we observe and appreciate the efforts that have been made to provide comfort to market participants that the introduction of a common TBA contract would be a net positive to the market, we do not believe that enough has been done, and also believe that time is running short to provide this comfort to the market if FHFA intends this effort to launch in mid-2019. This is particularly an issue around alignment of GSE activities and monitoring of performance, given how important it is to ensure that misalignment of performance does not occur in the first place, as opposed to trying to remedy it after it happens.”

See also:

FHFA Updates Progress on the Single Security Initiative and Common Securitization Platform

PDF

Submitted To

FHFA

Submitted By

SIFMA

Committee

SIFMA Securitization Group (SSG)

Date

19

December

2017