ValueWalk, By Michael Ide
The GSEs take another step towards unifying their businesses, and set the stage for whatever will follow, by naming the CEO and board for the jointly owned Common Securitization Securities
Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) are one step closer to using the Common Securitization Platform (CSP) first outlined by FHFA chief Mel Watt earlier this year, now that they have announced the CEO and board of Common Securitization Securities (CSS) the group responsible for managing CSP. David Applegate, a former head of GMAC Mortgage and GMAC Bank with more than 20 years in the banking and mortgage industry, has been appointed CEO, with the rest of the board made up of two executives from each of the GSEs.
Read the full article: Fannie Mae, Freddie Mac Announce Common Securitization Platform CEO