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FANNIE MAE's Loan Quality Initiative
Greg Phillips
Fannie Mae has undertaken a major effort – the Loan Quality Initiative – to obtain a clearer picture of the loans we guarantee to ensure that the delivery data is complete, accurate, and fully reflective of the actual terms of the mortgage, as well as aligned with our policies and standards.
To achieve our vision of a business model that is sustainable in all market cycles, Fannie Mae wants to work with our lenders to improve our ability to ensure that loans sold to us meet our credit, eligibility, and pricing guidelines. To do this, Fannie Mae will begin to implement new policies, business processes, and offer tools and resources for lenders that will:
• capture critical data earlier in the process;
• help ensure validation of loan data before, during, and immediately after purchase; and
• provide continual and relevant feedback and training.
Join us for an overview of the Loan Quality Initiative, with a focus on the 2010 updates to Fannie Mae’s guidelines – we’ll tell you about our policy, technology, and delivery guideline updates and target timeline for this year. The overview is intended to help you prepare for what’s coming and allow you to plan and prioritize resources as applicable.
About Greg Phillips Greg Phillips is a Senior Product Manager in Fannie Mae’s Single-Family Mortgage Business. Since joining Fannie Mae in 2004, Greg has served in the Customer Management group where he was responsible for developing and managing mortgage technology solutions and consulting services for Fannie Mae’s lending partners. He is currently responsible for managing the launch of new technology products and solutions to lender partners and vendors associated with the Loan Quality Initiative at Fannie Mae.
Greg has more than 23 years of experience in the financial services industry. Prior to joining Fannie Mae, he served in leadership positions managing product development and marketing activities at JP Morgan Chase and American Express. He has Master of Business Administration from Drexel University and a Bachelor of Science from the University of Dayton.
Interested in learning more about Driving Home? Prime Alliance Solutions, Inc. and Credit Union Direct Lending are co-sponsoring this year's The Driving Home Symposium. For more information, visit the conference website.
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