FHFA released a "Request for Input" on a proposed structure for a Single Security. The link to the FHFA website is here. ( Read more: Fannie and Freddie Another Step Closer to Sharing Single Mortgage-Backed Security ) As if the first time homebuyer didn't have enough issues with student loan debt and tight credit, they face another challenge: limited inventory at the low end of the price range. The number of US homes for sale in the bottom third of the market - below $198,000 - fell 17% in June compared to a year earlier, according to Redfin. The supply rose 3% in the middle market and 15% in the top third. Blame professional investors who are snapping up low-priced properties to turn into rentals. Prices are rising too, with the low end jumping 15%, the middle increasing 13% and the top end increasing 9%. Remember in the old days when rating agencies like Moody's would say that everything is great with securities backed by mortgages?