Fannie Mae-No Politics (FNMA)

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Fannie’s ‘Servicing Marketplace’ Off to a Strong Start

Friday April 6, 2018 ... By Carisa Chappell ... [e-mail]



Fannie Mae’s Servicing Marketplace has been up and running since December and the government-sponsored enterprise plans to add additional features later this year.

Renee Schultz, Fannie’s senior vice president of capital markets, told Inside Mortgage Finance that the feedback so far has been “incredibly positive” for a program designed to facilitate transfers of servicing rights when loans are sold into a Fannie mortgage-backed security.

Loans that were delivered under whole loan servicing-released commitments taken on or after Dec. 4, 2017, were bifurcated if sellers participate in its servicing execution tool or the Servicing Marketplace. The marketplace expands on Fannie’s Servicing Execution Tool developed in 2015.

The marketplace was in pilot mode for most of 2017 and didn’t open until the very end of the year. “Right now, we have 50 lenders on there that are selling servicing and we have seven servicing buyers,” said Schultz.