Servicing Management Default Underwriter (SMDU) is a loss mitigation platform, used by servicers, that renders real-time evaluation and decisioning of Fannie Mae loss mitigation programs.
SMDU Supports a Variety of Workout Types:
- Repayment Plan
- All Modifications Programs available through the Fannie Mae workout hierarchy
- Standard Short Sale
- Mortgage Release™ (Deed-In-Lieu of Foreclosure)
Available 24 hours a day and 7 days a week, SMDU can be integrated with a servicer's proprietary default management platform or accessed via a B2B vendor interface (see below for list of technology providers).
Key Servicer Benefits:
- Ensures accurate and consistent interpretation and delivery of Fannie Mae policy
- Reduces liability through limited representations and warranties relief
- Facilitates faster adoption of Fannie Mae loss mitigation programs
- Decreases costs associated with implementing and maintaining Fannie Mae loss mitigation guidelines and programs
- Enables access to new products
- Increases productivity through process improvements
- Enhances customer service by quickly providing borrowers with accurate and consistent decisions
SMDU Technology Providers
- BackInTheBlack LLC
- Black Knight Financial Services, Inc.
- CoreLogic, Inc.
- Grid Financial Services
- Overture Financial Solutions
Mortgage Servicers Using SMDU*
- Amarillo National Bank
- Arvest Bank
- Associated Bank
- Banco Popular de Puerto Rico (BPPR)
- Bank of Hawaii
- Central Mortgage Company
- Citizens One Home Loans
- C.U. Mortgage Services, Inc.
- Ditech Financial LLC
- Dovenmuehle Mortgage, Inc.
- Fidelity Bank
- Flagstar Bank
- LifeStore Bank
- Nationstar Mortgage
- Nationwide Advantage Mortgage Company
- Navy Federal Credit Union
- PHH Mortgage
- PrimeWest Mortgage Corporation
- Quicken Loans
- Regions Bank d.b.a. Regions Mortgage
- Residential Credit Solutions, Inc.
- RoundPoint Mortgage Servicing Corporation
- Seterus, Inc.
- Standard Mortgage Corporation
- State Bank of Lincoln
- U.S. Bank
* Partial list
For more information about SMDU, contact your Fannie Mae Servicing Portfolio Manager.