While the Federal Reserve has said they will pour virtually unlimited amounts of capital into the mortgage-backed securities market there...
Fannie Mae is testing a new program which would have appraisers assess a property without physically visiting it; appraisers will...
The platform aims to provide a better process for both lenders and consumers; Fannie Mae is partnering with various fintechs including Yodlee, FormFree, and Plaid to help build out the platform’s features. Source
Timothy Mayopoulos is the most recent example of a high profile executive moving into fintech; Mayopoulos will serve as President...
Beyond Blend more suppliers could be coming soon such as Roostify, BankVOD, LendSnap and Quovo; FinLocker, Plaid and PointServ are also currently running pilots with Fannie Mae; Only Blend, Finicity and FormFree are approved suppliers while there are more than 40 approved vendors; there are 20 approved vendors of income and employment validation reports, but only DataVerify and Equifax are approved suppliers of these reports. Source
Leading digital transaction management firm eOriginal has been selected to manage electronic documentation processes for Fannie Mae; as a government sponsored enterprise (GSE) Fannie Mae works with lenders nationwide; the eOriginal services will help improve all of the GSE's associated mortgage loan transactions providing support for lenders and loan portfolio services for Fannie Mae; in comments on the partnership, Cindy McKissock, vice president of customer digital experience at Fannie Mae said: "We continually look for ways to help lenders who want to deliver an end-to-end digital mortgage experience. In addition to investing in new eVault infrastructure, we are also simplifying eMortgage adoption by transitioning to the MISMO SMART Doc™ Version 3.0 format in 2017. This will reduce complexity and allow lenders and technology solution providers to adopt eMortgage with greater ease." Source