Fannie Mae CEO Timothy Mayopoulos detailed the intended benefits of his company’s newly developed Application Programing Interface (API), Servicing Marketplace and Single Source Validation in front of a packed conference hall at the 2017 Mortgage Bankers Association’s Annual Convention and Expo in Denver.
Compared to the rollout of the government-sponsored enterprise’s most anticipated 2018 innovation, Single Source Validation, which allows lenders to validate information about a borrower’s income, assets and employment in a single report, Mayopoulos said its new API solution “is on a faster track.”
Read on to find out more about how the new offerings are expected to help lenders.