Fannie Mae has confirmed that it's looking to outsource at least some of its technology chores to third-party vendors and sent out a request for proposals, but isn't saying much beyond that.
A spokeswoman for the government-sponsored enterprise would not discuss which companies are interested but did mention that International Business Machines Corp. is not a leading bidder.
Asked if IBM is still in the running for the contract, she would not comment. National Mortgage News reported March 28 that IBM was talking to Fannie about an outsourcing deal related to technology. (A spokesman for IBM declined to comment on what he called "rumors and speculation.")
IBM's servicing platform, IBM Lender Business Process Services, is a subservicer for the GSE, handling high-touch product.
The RFP was first issued some time late last year, said one technology adviser, who has a client interested in working for Fannie. A Canadian and a German company also have expressed interest in the RFP, he said.
It's unclear what type of technology tasks Fannie would outsource and how many GSE jobs might be lost.
It's expected that some Fannie workers might join the company that gets the contract.
Fannie and Freddie Mac have been quietly trimming staff in the past year without announcing what they're up to. (Their RFPs are not public even though the GSEs are owned by the Treasury Department.)
The White House and Republicans in Congress want to wind down their operations over the next five to seven years. The Federal Housing Finance Agency, which regulates the two, has urged management to reduce head counts, sources said.
Two weeks ago Fannie said: "We are looking at which company activities may be performed more effectively and at lower costs by third-party providers within the United States. We are doing so in connection with our effort to simplify the company's business operations and processes in order to strengthen our support for the market and increase efficiency."
