Fannie Picks Veros as Collateral Data Tech Provider
Fannie Mae (FNM) selected Santa Ana, Calif.-based risk management software developer Veros Real Estate Solutions to provide the technology for the government-sponsored enterprise (GSE) Collateral Data Delivery (CDD) system. The CDD system will enable lenders to electronically submit full appraisal reports prior to loan delivery, per a new Fannie regulation that takes effect March 1, 2010. Veros will build, maintain and support the system. “Veros is honored to serve as the technology provider in this significant project to increase appraisal quality across the mortgage industry,” said Darius Bozorgi, president and CEO of Veros. “Fannie Mae is taking the leadership position in efforts that are long past due for capturing and analyzing collateral data,” he added. Write to Austin Kilgore.