The second phase of the plan to have Fannie Mae and Freddie Mac using a common, single mortgage-backed security will be pushed back to the second quarter of 2019, the Federal Housing Finance Agency said Thursday.

Under the FHFA's guidance, the government-sponsored enterprises have been working to develop a common securitization platform that would allow the two mortgage giants to issue uniform mortgage-backed securities. Freddie started using the common security model in November, what was known as Release 1 of the plan. Originally, the second phase — known as Release 2 — allowing both Fannie and Freddie to use the CSP to issue a uniform MBS was projected for next year.

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