Presented By: Fannie Mae
Toward a Frictionless Future
A Conversation with Fannie Mae's Michele Evans, Executive Vice President and Head of Multifamily Finance.
By Fannie Mae October 19, 2020 4:33 pm
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When I began my career in multifamily finance nearly 30 years ago, we conducted business without cellphones or email. As hard as that is to imagine, it’s even more difficult to predict how we’ll be doing business 30 years from now. It’s likely the technology we’ll use every day hasn’t even been invented yet.
Taking the helm of Fannie Mae (FNMA)’s multifamily business, at this moment in time, is both daunting and exhilarating.
On the one hand, I’m fortunate to have deep experience both on the front-end and on the technology side of our business. I started out working closely with our customers on deals and, for the last decade, I’ve led the firm’s efforts to modernize our internal and external process and systems. Those systems need to reflect the reach and magnitude of our business – we’ve financed more than 10 million units, an achievement that required strong partnership and tools designed to make collaboration frictionless.
Now, I have the opportunity to bring my experience to bear during a time of both significant volume and disruption in the market. While we don’t know what the future holds, one thing is clear: as the pace of change accelerates, so must the pace of innovation. It’s our job at Fannie Mae to strategically and soundly plan for whatever the next real estate cycle may bring.
Today, we’re delivering on this goal by:
- – Investing in both our front- and back-end systems, so that we can meet the needs of our customers throughout the loan lifecycle;
- – Building capacity across our entire digital infrastructure to pivot and adapt as needed; and
- – Putting our data to work for our customers and the market in a variety of ways, and using data to make quicker decisions. This includes leading a data standardization effort that brings together our lenders and their vendors to standardize and structure shared data.
On the production front, we’re supporting our network of 23 DUS lenders as they make safe, prudent decisions about sponsors and properties to finance. Because we share the credit risk on every loan, it’s important that we work together seamlessly to help ensure good outcomes.
Our business roots us in shared responsibility and shared results. It also roots us in our mission. The good outcomes we seek extend to the renters we serve – we’re supporting safe, affordable housing; greater educational and economic opportunities; and strong, sustainable communities with every transaction.
Between our technological improvements and our continued focus on mission, we’re driving toward a future in which doing business with Fannie Mae is smooth, quick, and results-focused. Together, we do more with DUS, and our shared success allows us to serve a greater number of people in need of affordable housing. We believe we have the premiere financing platform in the industry, and we want our customers – and their customers – to believe that, too.
