Yardi’s Asset IQ solution will allow borrowers to transmit monthly data directly to Fannie Mae
SANTA BARBARA, Calif., April 27, 2022 /PRNewswire/ –Fannie Mae is the largest provider of apartment building loans with $3.8 trillion in mortgages. As the mortgage industry’s largest credit and operational risk manager, Fannie Mae uses rigorous standards and advanced technology to manage risk and protect customers, borrowers and investors. More than 50% of multi-family units financed by Fannie Mae are managed on Yardi® software. Yardi and Fannie Mae are collaborating to enable Yardi customers to submit risk data electronically with Yardi® Asset IQ.
Borrowers currently manually send monthly rent data and operating statements to their lending institution, which reviews, summarizes and forwards them to Fannie Mae. It is a cumbersome and time-consuming process. Asset IQ will integrate with the mortgage business Rental Roll Scanner™ to standardize rental data and allow borrowers to submit information directly to Fannie Mae with the click of a button. Fannie Mae and Yardi plan to add operating statement automation once development of the rent listing feature is complete.
“We deployed Rent Roll Digitizer in late 2021 to streamline a reporting process that was taking too much time and effort. We appreciate Yardi helping customers further reduce complexity, save time and provide up-to-date information in the reporting process,” mentioned woody brewervice president, Multifamily Chief Operating Office of product management for Fannie Mae.
“Yardi is excited to contribute to a better, faster, and smarter solution for Fannie Mae loan reporting. Asset IQ is a robust operational management tool for asset performance, pricing, productivity reporting, budgeting and more,” said Terri Dowensenior vice president of sales at Yardi.
Join a webinar to learn how Asset IQ improves portfolio performance by giving property managers deep insight into operations and finances and simplifying reporting to Fannie Mae.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to quality, affordable homeownership and rental housing for millions of people across America. It enables the 30-year fixed rate mortgage and drives responsible innovation to make buying and renting a home easier, fairer and more accessible. For more information, visit fanniemae.com.
Yardi® develops and supports industry-leading real estate investment and management software for all types and sizes of real estate companies. With 8,000 employees, Yardi works with clients around the world to drive meaningful innovation in the real estate industry. For more information on how Yardi is energized for tomorrow, visit yardi.com.