Investors demand ‘quid pro quo’ as GSEs prepare UMBS launch
The launch of the uniform mortgage backed security (UMBS) in June 2019 is approaching, but investors continue to voice uncertainty about the merits of the changes to the to be announced (TBA) market and are less prepared than US government officials would hope.
The UMBS will merge the Fannie Mae and Freddie Mac TBA markets into one common platform where investors will buy UMBS without being able to request securities from a particular issuer.The overhaul, which some describe as the largest change to the housing finance system since the 1990s, ...
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