This year, NSS released a new, expanded, and comprehensive version of the Fannie Mae B-2-B module in North Shore. The new Fannie Mae B-2-B module electronically sends all of the pertinent deal information for a successful registration and submission from North Shore to Fannie’s Gateway Portal. This module has been implemented successfully at CBRE and is available to all Fannie Mae Lenders.
In fact, CBRE has already been extensively using this component to electronically register and submit deals to Fannie Mae. The B-2-B module covers all aspects of the activity currently done manually in the Fannie Gateway Portal. This includes Deal Registration, Property updates, Participants, Loan Options, Regulatory Restrictions, Waivers, and Loan Submission. The module is fully integrated with the North Shore Business Rules Engine (North Shore IQ). Essentially, this allows it to validate all the data elements for compliance against the Fannie Mae requirements before the deal is submitted via API to Gateway. Additionally, users can prepare, review, and update the deal and its components before sending to Gateway for a seamless integration. We’ll be finalizing the B-2-B module soon with the final Pricing calls. This will include retrieving Automated Pricing, retrieving the Automated Quotes, and recording the Pricing decision.
Fannie Mae Mandate
Ultimately, Fannie Mae has released a mandate effective January 1, 2024. It states that all Lenders must register and submit individual deals using the DUS Gateway APIs. Hence why we released a new, expanded, and comprehensive version of the Fannie Mae B-2-B module earlier this year. It sends all of the pertinent deal information for a successful registration and submission from North Shore to Fannie’s Gateway Portal electronically using the DUS Gateway APIs.
Finally, if you have any questions about the Fannie B-2-B module or The CREF Operating System™ as a whole, please do not hesitate to reach out via our contact form, email, or by phone.
