A common securitization platform is under "full scale development" and should be ready for "significant testing" by next year, spokesmen for the government-sponsored housing enterprises said at a mortgage industry conference in New York.

Timothy Yanoti of Fannie Mae told the Mortgage Bankers Association's Secondary Market Conference that the new securitization platform "relies heavily" on standard industry products, but "does not incorporate legacy programs, nor do we expect it to."

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.