Migration includes the GSE’s credit risk assessment engine
In a bid to further automate its processes, Fannie Mae has migrated its IT processing workloads – including its credit risk assessment engine – to Amazon Web Services (AWS) from its on-premises data centers.
In a statement, the cloud computing giant confirmed that Fannie Mae will use its capabilities in machine learning, analytics, and serverless computing to “automate processes, enhance IT security, and innovate new services that facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America.”
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“By moving internal systems and customer-facing workloads to the cloud, Fannie Mae has the flexibility to quickly respond to external challenges like the COVID-19 pandemic and roll out new programs to help keep millions of borrowers and renters in their homes,” AWS said in its statement.
“For instance, Fannie Mae was able to deploy its forbearance program into production faster using AWS, initiating 1.4 million single-family forbearance plans since March 2020.”
“Fannie Mae is working to solve the biggest challenges in housing,” said Kimberly Johnson, executive vice-president and chief operating officer at Fannie Mae. “We are accelerating the digital transformation of our business to make it safer, simpler, and less expensive for lenders to originate a mortgage. AWS enables Fannie Mae’s ongoing digital transformation, and we rely on their innovative technology and cloud services to drive positive change in our industry.”
“Fannie Mae’s digital transformation with AWS is reinventing housing finance and lowering the barriers to affordable home rental and ownership for people and families across the US,” said Matt Garman, senior vice-president of sales and marketing at AWS. “With AWS as a strategic cloud provider, Fannie Mae can drive resiliency in their operations, respond quickly to housing market dynamics, and innovate new services to make the mortgage process easier.”
