Page 38 - The GSE Report March-April 2018

FANNIE MAE MJARN.U-ARPYR.20210818
A year after we first introduced Day 1 Certainty, we rolled out an enhancement to that program where we’re able to now calculate not only assets but income and employment from asset data. I’m excited about that because it’s a different way of thinking in the industry. It lowers costs in how you go about validating these sources of data. As we get through our pilot and into production, it will become an innovative game changer for us and our lender customers.
SSV has also created very significant process efficiencies. If we can get asset data directly from a bank through a service provider and use that asset data in DU, that’s a much safer, much more sound process than asking a borrower to bring in three months’ worth of paper bank statements. It’s saving time on the back and forth of trying to get the bank statements, trying to get the right bank statements, and then interpreting the bank statements. Going directly to the source and using that data has created a significant amount of process efficiency for our customers.
The second project is a bit higher level. Through our API (automated programming interface) platform, we’re starting to expose pieces of Fannie Mae data to target specific process pain points for our lender customers. It’s exciting because, through our APIs, our customers can access pieces of our data more quickly. It’s now easier for us to integrate into their current technology and manage micro pieces of data from Fannie Mae and inject it into a process point that allows them to make faster decisions.
As we continue to innovate, we’re spending lots of time with our customers, helping them not only integrate the technology or the functionality but also working with them on ways they can change their business processes to take advantage of the value proposition.
Can you tell me how your development and testing processes work?
First and foremost, we put the customer at the center of everything we do at Fannie Mae. Secondly, we are very mature in our agile engineering practices. We have been operating from an agile perspective at the firm for the last four years. We have intersected the customer-centric mindset with our agile development process. That translates directly into how we build and roll out products. We’ve put a digital operating model in place at the firm to spur innovation and deliver faster.
Our operating model has three main tenets: empowerment, collaboration, and test and learn.
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