The Federal Housing Finance Agency (FHFA) recently issued a Request for Input (RFI) about Fannie Mae’s and Freddie Mac’s pooling practices for the formation of “To-Be-Announced”-eligible Uniform Mortgage-Backed Securities (UMBS). FHFA is also seeking public input about other policies and practices that might affect UMBS fungibility, including the Enterprises’ oversight of UMBS prepayment speeds and alignment.
This RFI follows the launch of UMBS and “seeks to ensure that UMBS remain a source of stable, affordable liquidity for the U.S. housing finance system.” Fannie Mae and Freddie Mac announced marked the completion of their Single Security Initiative with the launch of the UMBS earlier this year. 
"UMBS is the result of close collaboration with FHFA, Freddie Mac, Common Securitization Solutions, and hundreds of housing finance stakeholders and we congratulate all involved on this achievement,” said Renee Schultz, SVP, Capital Markets, Fannie Mae in a statement. “We remain focused on ensuring that all market participants continue to make a smooth transition to UMBS and maintaining a highly liquid housing finance market.”
“The UMBS is one of the most significant accomplishments in our decade-long effort to improve the U.S. housing finance system,” said Mark Hanson, SVP, Securitization, Freddie Mac in a statement. “Americans will benefit from the efficiency and standardization brought about by this new common security. The success of the initiative is a direct result of Freddie Mac’s collaboration with Fannie Mae, Common Securitization Solutions, FHFA, and thousands across the U.S. housing finance industry. We are grateful for their hard work, and we join them in celebrating this achievement.”
FHFA invites feedback on all aspects of this RFI and the proposed approach to UMBS pooling no later than December 19, 2019. Input to the RFI should be submitted electronically here  or via mail to the Federal Housing Finance Agency, Division of Conservatorship, 400 7th Street, S.W., 8th floor, Washington, D.C., 20219.