Technology and Innovation
We are one quarter into the year and off to an innovative start! In the first few months, we focused on saving you time. DUS Gateway® is now connected to Committing and Delivery (C&D™), allowing us to integrate Loan Sourcing and Acquisitions Commitment processesRead More
On April 16, 2018, we will enhance DUS DocWay with several Lender-requested features to further simplify the loan document submission process. These features include new Green document types, layout changes to improve the user interface, and more flexible loan submission requirements – Lenders will be able to submit a loan package that is acquired by another user or includes checked out documents. The enhanced DUS DocWay will also automatically update data when Lenders create or update data in the Multifamily Structured Facility Management System (MSFMS).
Today, our Multifamily Mortgage Backed Securities disclosure website supports Single Class MBS data. On April 30, 2018, we will enhance DUS Disclose to contain disclosure information for Multifamily Megas. Information will be transitioned from PoolTalk® to DUS Disclose which includes changes to data files and documents. Information about the data available in the upcoming enhancement is provided on the DUS Disclose Information Center. Later this year, we will further enhance the disclosure platform to include disclosure information for Multifamily REMICs. With the completion of these enhancements, DUS Disclose will provide one comprehensive source of disclosure for all Multifamily securities.
Multifamily Asset Management Portal
In May, we will enhance the Multifamily Asset Management Portal (MAMP) to automate the process for tracking and closing out Completion Repair Agreements. Asset Manager assignments, requests for status updates on repairs, and Borrower requests will be managed through the MAMP, eliminating the reliance on email, and saving time – for both Fannie Mae and our Lenders.
In early December 2017, DUS Disclose replaced Multifamily Securities Locator Service (MFSLS) as Fannie Mae's multifamily securities disclosure platform. In preparation for the DUS Disclose release, Fannie Mae has updated Form 4097 with new required information for trading MBS and Cash Loans with Fannie Mae or a third party investor, as well as the Form 4098 with updated guidance on items that require additional disclosure.
DUS Gateway® enables Lenders to register and submit deals into Fannie Mae for consideration, track waiver requests and pipelines, and receive Fannie Mae's responses via the web. The system streamlined the Lender submission process and serves as our central system for collaborating with Lenders on deal reviews and approvals and managing our pipeline. It has dramatically transformed how we interact with our Lenders and enhanced the transparency of the deal flow process for all parties.
This year, we enhanced DUS Gateway to connect with the Committing and Delivery (C&D™) system, thereby integrating the Loan Sourcing and Acquisitions Commitment processes. During January and February 2018, we rolled out "Commitment Integration" to enable the automatic transmission of Commitment data for Pre-Review Deals and Refinance Deals from DUS Gateway to C&D. This automation allows Lenders to select approved loan options and enter, review and validate Commitment data directly in DUS Gateway, saving time and reducing re-work.
We've been accepting online documents for over ten years, and now with DUS DocWay that process is even simpler. DUS DocWay replaced Multidoc Express™ (MDE) as the repository for final underwriting loan documents submitted electronically. The new system improves traceability and provides a user-friendly interface with robust document import and search capabilities.
The Multifamily Rent Roll Collection application replaced eRents™ as the repository for Multifamily rent roll data for Mortgage Loan deliveries using C&D. Multifamily Rent Roll Collection uses a new Multifamily Rent Roll Template, which aligns with industry standards that we helped develop in conjunction with MISMO.
In December 2017, Lenders will also be able to access the Multifamily Rent Roll Collection application and the associated Multifamily Rent Roll Template to submit rent roll data for deliveries of Credit Facilities and Bulk Deliveries using Multifamily Structured Facility Management System (MSFMS).
C&D replaced Funding Express® as the entry point for all ASAP Early Funding Requests for eligible Lenders, eliminating the need for duplicate data entry in these systems.