As the Federal National Mortgage Association explores new technologies, lenders have been wondering how they will be affected. James Johnson, Fannie Mae's chairman, laid out the agency's technology agenda while speaking at a conference of the California League of Savings Institutions. An excerpt follows.
Our technology agenda is substantial. We're working with our customers on reducing the costs of origination. We are supporting the development of electronic data interchange standards that improve the sharing of origination, credit, mortgage insurance, title, underwriting, and delivery information among industry participants.