Lenders participating in Fannie Maes As Soon As Pooled program will be able to cut their funding time for mortgage-backed security trades to just one day, Fannie said as it unveiled a program improvement that will allow it to provide overnight funding.

The new enhancement to the ASAP and ASAP Sale products will allow lenders who submit MBS trades via Mornetone of Fannies communication networksby noon EST to receive funding by the afternoon of the following day, said Donna Callejon, Fannie Maes senior vice president of marketing.

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