Fiserv Assists Fannie In Early-Stage Workouts

Mae has engaged Fiserv to provide ongoing secure data updates, in real time, directly to Fannie Mae for the mortgage loans being serviced on the GSE's behalf. Fiserv was the first servicing technology provider to respond to Fannie Mae's request for the additional data, which allows the agency to review borrower credit capacity in order to make loan workouts. The real-time data transmissions will help Fannie Mae improve analytics and explore new workout solutions with a specific emphasis on early-stage borrower delinquency, Fiserv notes. The data fields requested by Fannie Mae will include information regarding borrower contact activities and payment behavior. "Fannie Mae is taking steps to gain more real-time information about our mortgage portfolio," says Jerry McCoy, vice president of business development, National Servicing Organization, Fannie Mae. "As such, we've engaged Fiserv to work with our servicers that utilize Fiserv's mortgage servicing platform to provide ongoing data updates directly to Fannie Mae for the mortgage loans being serviced on our behalf. This represents an expedient and non-intrusive way to get the data in a timely fashion." Fiserv has gained authorization for the data transmissions from nearly all of its clients who service loans for Fannie Mae and has already begun sending the authorized data directly to the agency. SOURCES: Fiserv, Fan


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