2020 HW Tech100 Mortgage winner: Common Securitization Solutions by Fannie Mae and Freddie Mac

Increasing secondary mortgage market liquidity

The CSS Common Securitization Platform helps increase secondary mortgage market liquidity through the uniform mortgage-backed security by functioning as one common, flexible technological and operational platform to store, process and transmit the large volume of data required to administer 1 million securities representing $4.8 trillion unpaid principal balance. As the agent for issuance of Freddie Mac and Fannie Mae single-family mortgage-backed securities, CSS built and operates the CSP for release of related loan and security-level disclosures, and ongoing administration of mortgage securities. The CSP consists of five modules: Data Acceptance, Issuance Support, Bond Administration, Tax and Disclosure.

  • Through the CSP, CSS has administered between $125 billion and $175 billion of monthly issuance volume and direct payments on securities.
  • Tradeweb reports MBS volumes on its trading platform alone are up a significant 28.6% year-to-date.
  • Since the start of forward trading in March 2019, more than $18 trillion in UPB of securities have traded, making the combined TBA market second only to the market for U.S. Treasuries in size and liquidity.

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