U.S. housing regulator files paperwork for new securitization firm

WASHINGTON Mon Oct 7, 2013 4:06pm EDT

WASHINGTON Oct 7 (Reuters) - The regulator overseeing major mortgage finance sources Fannie Mae and Freddie Mac on Monday said it filed legal paperwork to create a common platform for the two firms to issue mortgage-backed securities.

The regulator, the Federal Housing Finance Agency, said in a statement it established a new company called the Common Securitization Solutions, LLC, as a limited liability company with the state of Delaware. The joint venture is intended to help securitize home loans and consolidate some of functions currently replicated by Fannie Mae and Freddie Mac.

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