Fannie Looking at Improving ‘As Soon As Pooled’ Program
January 16, 2015
Fannie Mae is looking to improve the efficiencies and systems that drive its “As Soon As Pooled” program, the secondary market giant confirmed to Inside The GSEs. A spokesman for Fannie said no major changes are planned, especially regarding eligibility requirements, which is good news for the small to medium-sized lenders that use it. “ASAP is something we have been looking at,” he said. “The focus is on how we can make it better. But I can’t offer you any timetables.” ASAP is essentially an early delivery program. It allows lenders to fund loans closer to origination – up to 60 days before they are delivered to Fannie.For nonbank lenders that use warehouse lines of credit, the cost savings can ...