Technology in the mortgage industry: the Fannie Mae experience

Just over a decade ago, the mortgage industry found itself at a crossroads. The power of information technology was clearly visible; however, the industry still found itself burdened with a tremendously inefficient, paper-intensive workflow that added time and cost to the entire mortgage process. This fact, coupled with declining US home ownership rates, was a call to arms for Fannie Mae, an industry leader dedicated to furthering home ownership. Fannie Mae's technology innovations have dramatically cut per-transaction cost and transformed the mortgage industry.