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Servicing Management Default Underwriter Introduced to Simplify Servicing
As part of Fannie Mae's mission to simplify servicing, the
government-sponsored entity recently unveiled its Servicing
Management Default Underwriter (SMDU).
"SMDU eliminates risk, uncertainty, and complexity in the
default and loan modification process by simplifying eligibility
determinations and offering real-time answers on the best
solutions for borrowers," said Varma Penmatsa, VP of Digital
Products in Servicing at Fannie Mae.
Fannie Mae also took another step in its Simplifying
Servicing agenda at the start of February with updates to
investor reporting processes that standardized timing and
procedures for collecting loan-level data in mortgage-backed
securities.
"Investor reporting is a critical function for Fannie Mae, and
these enhancements bring an improved experience to customers
on both sides of our business," said Richard Sorkin, SVP for
Securitization. "It's a great example of how we're working to
bring simplicity and certainty to every aspect of Fannie Mae."
Fannie Mae's overall Simplifying Servicing mission is
based on industry feedback about the impact complex servicing
requirements and rules have on the servicing industry. Learn
more at SimplifyingServicing.com.
