Yardi’s Asset IQ solution will enable borrowers to transmit monthly data directly to Fannie Mae
Fannie Mae is the largest provider of loans for apartment buildings with $3.8 trillion in mortgages. As the largest credit and operational risk manager in the mortgage industry, Fannie Mae employs rigorous standards and advanced technologies to manage risk and safeguard customers, borrowers and investors. More than 50 percent of Fannie Mae financed multifamily units are managed on Yardi® software. Yardi and Fannie Mae are collaborating to allow Yardi clients to submit risk-related data electronically with Yardi® Asset IQ.
Borrowers currently send monthly rent roll and operating statement data manually to their lending institution, which then reviews, summarizes and transmits it to Fannie Mae. It is a cumbersome and time-consuming process. Asset IQ will integrate with the mortgage loan enterprise’s Rent Roll Digitizer™ to standardize the rent roll data and let borrowers submit the information directly to Fannie Mae with the click of a button. Fannie Mae and Yardi plan to add operating statement automation once the development of the rent roll capability is complete.
“We rolled out Rent Roll Digitizer in late 2021 to streamline a reporting process that demanded too much time and effort. We appreciate that Yardi will help its clients further reduce complexity, save time and provide up-to-date information in the reporting process,” said Woody Brewer, vice president, Multifamily Chief Operating Office of product management for Fannie Mae.
“Yardi is pleased 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 Dowen, senior vice president of sales for Yardi.
Join a webinar to learn how Asset IQ elevates portfolio performance by giving property managers in-depth insight into operations and finances and simplifies reporting to Fannie Mae.
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. It enables the 30-year fixed-rate mortgage and drives responsible innovation to make homebuying and renting easier, fairer and more accessible. For more information, visit fanniemae.com.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With 8,000 employees, Yardi is working with clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.