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FHFA White Paper: Secondary Mortgage Market Infrastructure

On Thursday, October 4, 2012, the Federal Housing Finance Agency (FHFA) released a white paper entitled, “Building a New Infrastructure for the Secondary Mortgage Market.”  The white paper describes a framework for a new common securitization platform and a model Pooling and Servicing Agreement.  The FHFA seeks to identify the core components of mortgage securitization, which are linked to two operational features: 1) a securitization platform to process payments and perform other functions that could be used by multiple issuers; and 2) a new contractual framework.  Public comments on the white paper will be accepted by the FHFA through December 3, 2012.