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PNC Real Estate accepted Fannie Mae’s Excellence in Operations award at the company’s 2017 Delegated Underwriting and Servicing (DUS®) Conference held in May.
The annual award recognizes the lender that has demonstrated outstanding performance in working with the company across many operational processes — including committing, delivery and certification, funding, securitization, disclosure, housing goal data quality, servicing reporting and remitting.
Doug Higgs, Vice President of Multifamily Operations, Fannie Mae remarked, “Our winner this year has proven their strong commitment to the timely delivery of high quality data, consistent engagement and a focus on meeting our mutual customer’s expectations. They are the first to reach out and make sure that they understand process changes and often provide guidance and feedback on rollout activities. Continuous improvement toward data accuracy has been a hallmark of PNC’s performance.”
The company further noted that PNC keeps Fannie Mae abreast of what’s en route and hits on-time delivery of data and document metrics by 100% almost every month. The team requesting payoff quotes from the agency provides a heads-up on any unusual circumstances or last-minute changes surrounding the quotes.
PNC’s accuracy and responsiveness are critical for PNC’s clients. Any inaccuracy, discrepancy or delay can impact a closing date and therefore the client’s financial commitment.
PNC also strives to stay on the cutting edge of new products and services offered by Fannie Mae. As one example, the bank recently facilitated the usage of Fannie Mae’s Green Rewards program. The program seeks to stimulate investment in energy- and water-saving improvements for aging multifamily properties.
“In a competitive environment, PNC’s ability to customize loans specific to each acquisition has been crucial to our continued growth,” notes Jesse Wilson, Managing Principal of Stratford Partners, regarding a recent transaction that used the Green Rewards product. “PNC’s understanding of the Green Rewards product, and other products like it, is helping us capitalize great acquisition opportunities and ultimately deliver above market returns to our investors.”
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