Fannie Mae 2003 Annual Report Download - page 23

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21
FANNIE MAE 2003 ANNUAL REPORT
Because of Fannie Mae’s Mission.
80 percent of applications. DU also helps us
provide borrowers with a roadmap that gives
a list of things to work on, if at first we can’t
approve them.
At Liberty Bank, we’re here to facilitate
the accumulation of wealth for our customers.
Fannie Mae furthers that mission because
wealth building is homeownership, and that
makes our job that much easier.”
Fannie Mae levels the playing field and
allows us to compete with larger lenders.
Because of Fannie Mae we are able to help
more customers with the biggest purchase of
their lives. They offered technology that
allowed us to be more efficient so we can
handle more capacity with fewer resources.
Before Fannie Mae, using manual under-
writing, we would only be able to approve
60 percent of mortgage loan applications —
that was it. Today, with the aid of Fannie Mae’s
Desktop Underwriter, we are able to approve
“Without Fannie Mae, we would have less credibility with our constituents
because they would be getting their basic need of owning a home met by someone
else. Our talk would ring hollow because we would be saying to them, we’re
here to help you build your economic capacity, we’re here to give you support
with your financial needs, yet we’re not there for the largest component of
your wealth building.