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Vendors hope for digital data verification boom in mortgage servicing (National Mortgage News)

Government-sponsored enterprise Fannie Mae recently began explicitly allowing mortgage companies to use vendor technology that could help reduce the turnaround time when submitting information used to evaluate distressed borrowers for loan modification options.

The automation, which gives mortgage companies consumer-permissioned access to bank or payroll information, has been used to help qualify a borrower for a new loan, but it is used less frequently in servicing, where the implementation of new technologies overall was less common prior to the pandemic.

Read the full story in National Mortgage News.

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