(RECAP: A fundamental and substantial change is coming to the bonds issued by Fannie Mae and Freddie Mac and the way those bonds are issued, but no one seems quite sure when it’s going to happen. And given the GSEs’ substantial place in the securitization market, the CSP has been a popular topic of discussion the second day of ABS East, the massive industry conference which focuses on the securitization market. While the final form for the CSP is yet to be determined, the FHFA published its proposal for how it could work in August.)