New House Proposal on Evolution of the Secondary Mortgage Market

"According to a press release from Garrett's office, under his plan the Federal Housing Finance Administration (FHFA) will be directed to develop several categories of mortgages and develop uniform underwriting standards for each as well as standards and uniform securitization agreements, representations, and warrantees. The process for selling to investors will be streamlined for securities that meet the new standards and FHFA will be given authority to ensure underwriting and securitization standardization compliance."