2013-03-12 — mortgagenewsdaily.com
FHFA's Acting Director Edward J. DeMarco announced in a speech on Monday that the agency, which acts as conservator for Fannie Mae and Freddie Mac (the GSEs) would be establishing an independent entity to implement a new securitization structure to replace the existing GSE platforms. Â The new entity, which would be initially funded and owned by the GSEs, is an outgrowth of the agency's 2012 Strategic Plan for the GSEs.
BAML said the initial headlines about the new entity aroused fears that there might be a near-term phase-out of existing agency MBS securities in favor of some new universal MBS security or that the two GSEs might be merged with potential negative results for MBS and debt markets. The bank said these fears, in their view are unwarranted. Â
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