Fannie Mae and eMortgages Business as Usual

1
Fannie Mae and eMortgagesBusiness as Usual

• Christos Bettios
• Senior Product Manager, eMortgage Group
• Fannie Mae

2
Agenda

• History and Current State
• Fannie Mae eMortgage Delivery Components
• Highlights of our eMortgage Guidelines
• Our Experience
• Additional Fannie Mae Resources

3
eMortgages Are a Reality

• Business As Usual As In the Paper Mortgage
  World, the Process, Technology, and Legal Risks
  are Manageable
• Our eMortgage Delivery Solution Has Been Open For
  Business Since 2002
• We Buy eMortgage Loans Nearly Every Day
• We Share Our Expertise With Our Lender Customers

4
History and Current Status

• 2000
• Federal E-SIGN Signed Into Law
• Legal Framework Analysis at Fannie Mae
• Purchased First Two eMortgages in Secondary
  Market
• SMART Doc Concepts and Specifications
• 2001
• MBA (MISMO) Launches eMortgage workgroup
• 2002
• Announcement 02-08 Issued June 2002
• Guide to Delivering eMortgages Published
• Fannie Maes eMortgage Delivery is Open for
  Business
• 2004
• MERS eRegistry Launched
• 2005
• Guide to Delivering eMortgages Updated
• Fannie Mae Requires Use of MERS eRegistry
• 2006
• eMortgage Deliveries Routine Volumes Increasing

Development and Pilot Programs
Production and Volume Growth
5
Four Components to Fannie Maes eMortgage Delivery

• Legal Framework for Enforceability
• eMortgage Delivery (eMD) Solution
• Guidelines for Document Custodians, Servicers,
  and Other Participants
• Lender Consulting and Readiness Process
• Formal Lender Implementation Methodology
• Testing and Production Support

6
Fannie Maes eMortgage Guidelines

• Updated June 2005 to Reflect the MERS eRegistry
  Requirement
• Registration Within One Day of eClosing
• Fannie Mae/Freddie Mac Uniform eNote
• Processes for Delivery, Certification, and
  Servicing

7
Our Experience

• Significant Value
• Borrower No Surprises Better Experience
• Closing Agents Close More Loans
• Lender Process Efficiencies, Shorter Sales
  Cycles, Funding Pickup
• eMortgages Are About Data
• Trusted Source
• Business And Data Integrity
• Control Of The Data Control Of The Process
• For Lenders Same Day Origination, Close, Sell
• Lender Adoption Continues To Grow
• Offering Borrower Incentives (Better Quality)
• eMortgage Loan Volumes are Growing

8
Fannie Mae eMortgage Resources

• eMortgage Guide Available on http//www.efanniemae
  .com
• Contacts
• christos_bettios_at_fanniemae.com
• Fannie Mae eMortgage Group
• Fannie Mae Customer Representatives
• Wed Like To Hear From You
• Track Market Developments
• Help Remove Obstacles