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Volume 18 - Number 8

April 13, 2018

Fannie Looks to Introduce New Features to Servicing Marketplace

The Servicing Marketplace launched last year by Fannie Mae has had a good response so far. It was created to connect servicers and sellers during transfers, and there are already talks of enhancements in the near future.The program was in a pilot phase for the bulk of 2017, officially kicking off in December. The GSE designed the platform to support co-issue transactions, bringing sellers and servicers together to deliver pricing certainty and transparency, as well as efficiency. Loans delivered under whole loan servicing-released commitments taken on or after Dec. 4, 2017, are bifurcated if sellers participate in Fannie’s servicing execution tool or the servicing marketplace.

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Poll

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

The broker. It’s his/her client.

35%

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

30%

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

13%

Hard to answer. It’s a complicated issue.

22%