What is a pilot?
Pilots involve limited scope testing of hypotheses to compare expected results to actual results and helps us make informed decisions regarding market rollout.
How are pilots developed?
We consider many factors when pilots are being developed including:
- Business requirements
- Legal and regulatory requirements
- Success measures
- Appropriate market participants
Prior to launching a pilot, we:
- Identify the problem we are trying to solve
- Develop the pilot objectives and metrics to track performance
We monitor throughout the pilot lifecycle and determine whether to:
- End the pilot
- Continue the pilot to test additional variables
- Deploy the innovation to the market
The pilot list will be refreshed on a biannual cadence at month-end April and October.
|Automated validation of income||Assess how to provide income, employment, and asset validation through an asset report. The objective is to simplify the provision of the verification services on Single-Family loans and reduce costs.||Active||October 19, 2017 – December 31, 2022|
|Appraisal modernization||Assess new processes to improve Single-Family valuation models, time efficiency, and reliability of real estate appraisals. This valuation process provides alternative options to conduct a property inspection that is leveraged by an appraiser who analyzes the inspection data and determines value.||Active||Equitable Housing Finance||October 26, 2017 – June 30, 2023|
|Shared equity program certification system||Assess whether providing lenders with safe harbor for certain community land trust Selling Guide requirements will increase lender participation in the shared equity market and grow the volume of shared equity loans delivered to Fannie Mae.||Active||Duty to Serve||April 9, 2021 – December 31, 2024|
|Nonprofit acquisitions of REO in disaster areas||Permit a nonprofit entity to be qualified as a Single-Family borrower with the objective of supporting FEMA-declared disaster areas to rebuild and preserve the availability of affordable rental housing.||Active||Duty to Serve||November 18, 2021 – November 30, 2023
Magalia, CA and Paradise, CA
|Resident-owned communities||Advances our Duty to Serve Underserved Markets Plan for the Manufactured Housing Market, specifically, Duty to Serve Regulatory Activity: Manufactured housing communities owned by a governmental entity, non-profit organization, or residents.||Active||Duty to Serve||January 7, 2019 - May 1, 2022 with an extension in progress until April 2025|
|Expanded Housing Choice||This pilot aims to remove barriers to housing by incentivizing borrowers to accept housing choice vouchers. The pilot will initially focus on two states that do not have source of income protections – Texas and North Carolina.||Active||Duty to Serve||12-month pilot period starting on April 4, 2022 in Texas and North Carolina|
|Accessory Dwelling Units (ADUs)||Assessing whether the expansion of financing options for Single-Family homes with ADUs increases affordable supply of housing options.||Active||Duty to Serve||September 9, 2021 – December 31, 2023|