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Volume 17 - Number 22

November 3, 2017

GSEs Say Technological Innovations Here to Stay

Fannie Mae announced several new technologies last week, including one that will let lenders validate a borrower’s primary information in one step. Single Source Validation is currently in the pilot testing phase and will be incorporated into the GSE’s Desktop Underwriter tool in 2018. Through the program, lenders can validate a borrower’s income, assets and employment using a single asset report as the source data instead of scanning through a multitude of paper documents. Fannie said that this not only makes it easier to originate loans but it also helps curb costs. Speaking at the annual Mortgage Bankers Association convention in Denver last week, Fannie CEO Timothy Mayopoulos said...

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Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.


The wholesale/table funder. They’re taking the financial risk.


The broker, but only for the first year. After that, the borrower is fair game.


Hard to answer. It’s a complicated issue.