The newly developed API by Fannie Mae represents a significant advance for lenders, as it allows them to access all necessary information regarding loan commitments through a single interface. Previously, lenders had to piece together data from multiple sources and perform complex in-house calculations, making the process cumbersome. The leadership at Vice Capital Markets, including CIO Shawn Ansley, praised the API for revolutionizing secondary execution efficiency, which has been developed with rigorous testing and feedback. The API ultimately aims to improve decision-making and profitability in mortgage-related transactions.
"This API is a game-changer for lenders looking to optimize their secondary execution," said Shawn Ansley, emphasizing its role in simplifying pricing processes.
"Now, with this API, all necessary information is available at lenders' fingertips with a single request," showcasing the efficiency it brings to loan processing.
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