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Article: GSEs See Automation as Spurring Low-Mod Housing.(Fannie Mae and Freddie Mac; affordable housing)(Brief Article)
- Article from:
- National Mortgage News
- Article date:
- June 12, 2000
- Author:
CopyrightCOPYRIGHT 2000 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Technology is helping Fannie Mae and Freddie Mac deliver on their mission. And technology is closely tied to the agencies' affordable housing efforts which are - as Clyde Ensslin, a spokesman at Fannie Mae, said - "central to that mission." "Desktop Originator and Desktop Underwriter help us make affordable housing more available and more accessible," he said. Mike Coffey, vice president, expanding markets at Freddie Mac, said that technology is enabling many families to qualify for a conventional mortgage for the first time. Specifically, he noted that Loan Prospector, Freddie's underwriting system, allows the company to promote mortgages with more flexible credit terms ...