Fannie Mae has decided to stop providing lenders with free document custody services on mortgages it buys for its portfolio.

The government-sponsored enterprise said it has picked Bank of New York Mellon Corp. to provide these services to lenders for a fee beginning May 11.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.