Ironing Out the Wrinkles of the Single Security

Brief

Ironing Out the Wrinkles of the Single Security

Abstract

In this brief, the authors assess the move by Fannie Mae and Freddie Mac to a single security, called the Uniform Mortgage-Backed Security (UMBS). After discussing the purpose of the single security, the authors review its success to date, the challenges that remain, and a recent proposal by the Federal Housing Finance Agency (FHFA) to address those challenges. The authors also offer thoughts on how the FHFA might use a more market-oriented approach to address the challenges more effectively.

Centers

Cross-Center Initiative

Cross-Center Initiative: 
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.
LATEST IN Housing and Housing Finance
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.