The ""Federal Housing Finance Agency"":http://www.fhfa.gov/ (FHFA) is asking for the public's input on a white paper it released Thursday containing proposals for a common securitization platform and a model Pooling and Servicing Agreement.
[IMAGE]According to the FHFA's release, ""the white paper seeks to identify the core components of mortgage securitization that will be needed in the housing finance system going forward.""
The white paper discusses a proposed securitization platform to process payments that can be used by multiple issuers and a contractual framework supporting the new infrastructure.
According to the white paper, the proposed infrastructure has two complementary goals, which are to replace the current model with a more efficient one and ""establish a framework that is consistent with multiple states of housing finance reform, including greater participation of private capital in assuming credit risk.""
""The release of this white paper is an important step laying the groundwork for the future structure of the housing finance system,"" said FHFA Acting Director Edward J. DeMarco. ""Given that the securitization infrastructure could serve as a utility that would outlast Fannie Mae and Freddie Mac as we know them, we look forward to public input from all market participants and interested parties.""
The white paper is available ""online through the FHFA's website."":http://www.fhfa.gov/webfiles/24572/FHFASecuritizationWhitePaper100412FINAL.pdf
Input must be received by December 3, 2012 and can be mailed to Federal Housing Finance Agency, Office of Strategic Initiatives, 400 Seventh St., SW, Washington, D.C. 20024 or emailed to [email protected].