In yet another withering report, the FHFA’s Office of Inspector General (OIG) late Friday blasted FHFA’s transparency regarding the common securitization platform and what it believes to have been very limited results for the billions spent so far.  Given that the Crapo outline counts on the CSP, this is a problem for structural reform.  But, even more immediately, it’s a real challenge for the UMBS in anything other than the conservatorships.

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