The Federal Housing Finance Agency announced plans to officially launch the “common” uniform mortgage-backed security collateralized by Fannie Mae and Freddie Mac loans on June 3, 2019. The regulator confirmed the exact date this week after previously only revealing the common security would be issued in the second quarter of 2019. The new UMBS will replace the current offerings of to-be-announced-eligible MBS and will be issued through Common Securitization Solutions, a joint venture equally owned by Fannie and Freddie. The Bethesda, MD-based CSS has been working on the project for several years now at a cost of hundreds of millions of dollars.