Page 37 - The GSE Report March-April 2018

FANNIE MAE MJARN.U-ARPYR.20210818
How Fannie Mae is innovating throughout the mortgage lifecycle
Henry Cason, SVP, Head of Digital Products at Fannie Mae, is responsible for the design, development, and launch of a digital suite of products and services across single-family residential mortgage loan life cycle. Carson is also responsible for fostering the integration of Fannie Mae’s technology and business infrastructure across Fannie Mae’s Single-Family business in mortgage origination and underwriting, loan acquisitions, conduit and capital markets business, as well as servicing and asset management portfolios.
In an interview with MReport, Cason discussed his efforts to lead Fannie’s technological innovation, the GSE’s testing and development processes, and emerging technologies that have the potential to reshape the mortgage and housing landscape.
As Head of Digital Products at Fannie Mae, how do you and your team encourage technological innovation?
In our Single-Family division, we build and deploy technology that is tailored to our customers and is also used internally by our firm. That technology follows a mortgage’s lifecycle: from the front end of our business—how do we underwrite loans? —all the way through to delivery of those loans into Fannie Mae. The technology we build is also used by capital markets investors and helps ensure liquidity is available in the marketplace.
On the back end of our business, technological innovation shapes how those mortgages are serviced, whether that’s performing or non-performing loans. My role is one of taking an end-to-end view across the lifecycle and understanding how we can introduce digital functionality to the marketplace to make it easier for our customers to do business with us. We’re already starting to see the early benefits of our efforts.
What are some of the projects you are working on right now?
The first one is what we call our Single Source Validation (SSV) project, which is building upon our Day 1 Certainty program. Just to give you an overview, we rolled out Day 1 Certainty a year and a half ago. It offers the ability to access source data on employment income and asset verification, and use that data within the Desktop Underwriter (DU) process. If you had gotten approved through DU by using that data directly from the source, then we were able to offer relief on certain reps and warrants for our customers to provide certainty on that loan.
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