Defining Issues | May 2019
KPMG summarizes the accounting implications related to mortgage- backed security exchanges under the Single Security Initiative.
KPMG’s Defining Issues discusses a Fannie Mae and Freddie Mac initiative resulting in a single mortgage-backed security, known as the uniform mortgage-backed security or UMBS. Investors will be allowed to exchange certain existing Freddie Mac securities for newly issued securities.
Investors in Fannie Mae and Freddie Mac mortgage-backed securities (MBS)
June 3, 2019 – Fannie Mae and Freddie Mac expected to begin issuing new UMBS
Fannie Mae, Freddie Mac single security initiative
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