"This is a milestone marking several years of intensive work across Freddie Mac, Fannie Mae, CSS and FHFA to take this project from concept to reality. I'm very appreciative of the collaboration and drive exhibited by everyone working on this project. This is one of the ways we're working together to build a better Freddie Mac and a better housing finance system for families, customers and taxpayers." David M. Applegate, CEO of Common Securitization Solutions, LLC, said, "We are very pleased to be partnering with Freddie Mac, Fannie Mae and FHFA as the CSP progresses. Today's announcement by Freddie Mac that it has successfully completed its first bond issuance and bond administration on the platform is an important step forward in bringing additional liquidity and fungibility to the TBA market." Release 1, which launched on Nov. 21, enables Freddie Mac to transfer certain securities operations for its Gold participation certificates (PCs) and Giant PCs to CSS and the CSP.