News Release

February 15, 2017

Servicers, borrowers and investors all benefit as Fannie Mae simplifies servicing

Announcements on Simplifying Servicing and live demonstrations at MBA Servicing Conference 2017

Alicia Jones

202-752-5716

GRAPEVINE, TX – Fannie Mae (FNMA/OTC) today announced two significant steps forward toward Simplifying Servicing™. Effective immediately, all Fannie Mae servicers can easily harness the power of the industry-leading loss mitigation tool, Servicing Management Default Underwriter™ (SMDU™) through a new user interface. Live demonstrations and training registrations will be available during Mortgage Bankers Association’s National Mortgage Servicing Conference & Expo.

In policy, technology and operations, Fannie Mae has launched major efforts to simplify servicing and bring efficiency to customers’ servicing activities.

“SMDU eliminates risk, uncertainty, and complexity in the default and loan modification process by simplifying eligibility determinations and offering real-time answers on the best solutions for borrowers. The outcome is a simpler experience for both servicers and borrowers” said Varma Penmatsa, Vice President of Digital Products - Servicing, Fannie Mae.

Additionally, on February 1, 2017, the company began implementing significant investor reporting enhancements as part of Simplifying Servicing. The improvements standardize the timing, systems, and processes for collecting loan-level Mortgage-Backed Securities data, bringing efficiency to their servicing activities.

“Investor reporting is a critical function for Fannie Mae and these enhancements bring an improved experience to customers on both sides of our business” says Richard Sorkin, Senior Vice President for Securitization. “It’s a great example of how we’re working to bring simplicity and certainty to every aspect of Fannie Mae.”

To learn more, visit www.SimplifyingServicing.com.

WHO: Fannie Mae

WHAT: Live demonstration of Fannie Mae’s SMDU UI (Servicing Management Default Underwriter User Interface).

WHERE: THE HUB - Longhorn Halls D-E, Convention Center, Gaylord Texan (Grapevine, Texas)

WHEN: Wednesday, February 15, from 10:30 AM to 11:00AM and 3:15PM – 3:45PM
Thursday, February 16, from 10:30 AM to 11:00AM and 3:15PM – 3:45PM

WHY: A new user interface for SMDU means this powerful tool is now easily available to all servicers from their desktop! See how SMDU UI can transform your servicing operation. Sign-up for training at the Fannie Mae booth in THE HUB today or at www.SimplifyingServicing.com.

INTERVIEW OPPORTUNITIES:

  • Richard Sorkin, Senior Vice President of Securitization, Fannie Mae
  • Varma Penmatsa, Vice President of Digital Products - Servicing, Fannie Mae
  • Ramon Richards, Vice President of Securitization & Servicing Technology, Fannie Mae
  • Pat Kopins, SMDU Product Manager, Fannie Mae

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.