; (B) specify the requirements for loans that may serve as collateral for mortgage-backed securities issued through the Common Securitization Platform, including securities that will be issued by issuers other than the enterprises; and (C) specify the requirements for operating and maintaining the Common Securitization Platform and the establishment of reasonable fees for use of the Common Securitization Platform. (2) Approval and modifications of standards (A) Initial standards In establishing the standards described under paragraph (1), Common Securitization Solutions shall use established industry standards as a basis for standardization requirements for the issuance of such securities through the Common Securitization Platform. (B) Approval of standards The standards developed pursuant to paragraph (1) shall be subject to approval by a 2/3 vote of the CSS Board of Managers and by the Director. (C) Revisions to standards Common Securitization Solutions or the Exchange, as applicable, may revise the standards established pursuant to paragraph (1) from time to time as may be necessary. Material revisions to such standards shall require a 2/3 vote of the CSS Board of Managers or the board of directors of the Exchange, as applicable, and approval of the Director. (3) Issuing securities and ensuring capabilities (A) In general The Director shall establish a date or dates, not later than 2 years after the date of enactment of this Act, by which Common Securitization Solutions shall facilitate the issuance of securities by issuers other than the enterprises to issue mortgage-backed securities. (B) Exception The Director may delay a date established under subparagraph (A) for 1 year if the Director, in consultation with the Federal Housing Finance Oversight Board— (i) determines that— (I) facilitation of such securities is not feasible within that period of time and could adversely impact the housing market